'Cash-washing machine' ED seizes Rs 2.54 crore from washing machine in Mumbai

In recent days, searches were carried out across multiple cities, including Delhi, Hyderabad, Mumbai, Kolkata, and Kurukshetra in Haryana.

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The Enforcement Directorate (ED) has made a significant seizure of ₹ 2.54 crore in "unexplained" cash during its recent searches in several cities, revealing a portion concealed inside a washing machine. These actions are part of an investigation into alleged violations of the foreign exchange law.

The ED conducted searches at the premises of multiple companies and their directors, including notable entities like Capricornian Shipping and Logistics Pvt Ltd, Laxmiton Maritime, Hindustan International, Rajnandini Metals Limited, Stawart Alloys India Pvt Ltd, Bhagyanagar Limited, Vinayak Steels Limited, and Vashishta Constructions Pvt Ltd. Among those under scrutiny are Vijay Kumar Shukla, Sanjay Goswami, Sandeep Garg, Vinod Kedia, and others associated with these companies.

These searches were carried out in various locations spanning Delhi, Hyderabad, Mumbai, Kolkata, and Kurukshetra in Haryana over the past few days. However, specific details about the recovery of cash from the washing machine were not disclosed by the ED.

The ED's action stemmed from "credible information" indicating that these entities were involved in large-scale foreign exchange transactions outside India. They allegedly facilitated "suspicious" outward remittances totaling ₹ 1,800 crore to Singapore-based Galaxy Shipping and Logistics and Horizon Shipping and Logistics, managed by Anthony De Silva.

Investigations revealed that Capricornian Shipping and Logistics, Laxmiton Maritime, and their associates made outward remittances amounting to ₹ 1,800 crore to the Singapore entities under the pretext of fictitious freight services and imports.

These transactions were facilitated through convoluted routes involving shell entities such as Neha Metals, Amit Steel Traders, Triple M Metal and Alloys, and HMS Metals. Alongside the cash seizure, the ED also confiscated various "incriminating" documents and digital devices during the raids. Additionally, 47 bank accounts linked to the involved entities have been frozen as part of the ongoing probe.