Hawala Money

ED attaches Rs 305 cr assets of Joyalukkas jewellery group on hawala charge

The Enforcement Directorate on Friday said it has attached assets worth more than Rs 305 crore of Joy Alukkas Verghese, the owner of prominent Kerala-based jewellery group Joyalukkas, in a FEMA case linked to alleged transfer of "huge cash" to Dubai by the company through hawala channels. The federal probe agency had carried out searches at multiple premises of the Thrissur-headquartered group on February 22. "The attached assets include 33 immovable properties (valued at Rs 81.54 crore) consisting of land and residential building in Shobha City, Thrissur, three bank accounts (having deposits of Rs 91.22 lakh), three fixed deposits worth Rs 5.58 crore and shares of Joyalukkas India Pvt Ltd (valued at Rs 217.81 crore)," the ED said in a statement. The total value of these assets, attached under section 37A of the Foreign Exchange Management Act (FEMA), is Rs 305.84 crore, it said. The case pertains to "huge amount of cash transferred to Dubai from India through hawala (illegal money

Hawala operator involved in funding LeT, Al-Badr arrested from Delhi

A 48-year-old Delhi based garment trader allegedly working as an agent in routing hawala money to terror outfits Lashkar-e-Taiba (LeT) and Al Badr has been arrested from here, police said on Friday. Mohammad Yaseen, a resident of Turkman Gate here, was arrested in a joint operation by police from Delhi and Jammu and Kashmir and central agencies on Thursday, they said. During interrogation, Yaseen revealed to the police that hawala money was being routed to India through South Africa and collected in Surat and Mumbai. He ran a garment business in Meena Bazaar and was the Delhi link to send this money to terror operatives in Jammu and Kashmir through couriers, Special Commissioner of Police (Special Cell) HGS Dhaliwal said. The officer said recently, Rs 24 lakh hawala money was sent from South Africa to support terror activities in India. Out of this, Yaseen transferred Rs 17 lakh through two couriers to a terror operative named Abdul Hamid Mir in Jammu and Kashmir. The police, howe

National database soon to monitor terrorism activities: Amit Shah

The Minister was speaking after inaugurating the National Intelligence Grid (NATGRID) Bengaluru premises today

ED to move court against businessman Nandkishor in Pushpak Bullion case

The ED had recently attached properties worth Rs 6.45 crore reportedly belonging to Shridhar Patankar, the brother-in-law of Maharashtra Chief Minister Uddhav Thackeray in the same matter

Income tax dept raids hawala operatives across Delhi, Goa, other states

The Income Tax Department has recovered cash and jewellery worth about Rs 5.26 crore after it carried out multi-city raids against hawala operators and individuals who prepare fake bills

ED registers money laundering case in Rs 1,000 cr Chinese hawala scam

Probe allegedly reveals that at the behest of Chinese individuals, more than 40 bank accounts were created in various dummy entities

I-T dept serves notice to Congress for 'hawala funds' worth Rs 170 cr

The IT department seeks Congress' explanation for receiving the funds from a company as part of its tax evasion probe.

I-T dept unearths Rs 3,300-crore hawala racket involving infra firms

The Board, the policy-making body for the I-T department, however, did not identify the entities raided

Black hole in the economy

the fact that the estimates of the size of the black economy in India varied from 7 per cent to 120 per cent of GDP is a matter of surprise - and some concern

Gujarat HC sets aside arrest warrant against bullion trader

Warrant had been issued after ED linked Kothari's alleged involvement in laundering of Rs 5,000 cr

Gujarat HC sets aside arrest warrant against bullion trader

PMLA had issued NBW against Prithviraj Kothari, MD of Riddhi Siddhi, in the multi-crore hawala scam

ED conducts multi-city searches at 11 premises of a Hawala operator

The search was conducted on Sept 17 and a preliminary enquiry revealed that the Hawala transactions are being carried by one of his Indian company M/s Radhika Gems Pvt Ltd by collecting money in India

PMLA case: Hawala dealer Aslam Wani's ED custody extended till August 20

He was presented before the court after the expiry of his eight-day ED custody

Crackdown on terror funding: ED conducts raids in Srinagar in Hawala case

The central agency has roped in the state police for conducting the searches

Bankers forged papers to transport hawala cash during polls: DMK leader

SBI clarifies cash movement was approved by RBI