A- A A+
Last Updated : Aug 25 2019 6:16AM     Screen Reader Access
News Highlights
Last rites of Former FM Arun Jaitley to be performed at Nigambodh Ghat tomorrow            India, Bahrain sign four agreements after delegation-level talks            PM holds talk with Crown Prince of Abu Dhabi; receives UAE's highest Civilian Honour            Janmashtami being celebrated in different parts of the country            PV Sindhu reaches women's singles final of World Badminton C'ships           

National News

Feb 12, 2019
8:41AM

I-T dept unearths Rs 20,000 cr Hawala racket in Delhi

file pic
The Income Tax Department has busted a nexus of hawala operators who were running a money laundering racket in Delhi estimated to be worth over 20 thousand crore rupees. Official sources said, a series of raids and surveys were conducted by sleuths of the Delhi investigation unit of the I-T Department over the last few weeks in different business areas of old Delhi. The operations led to unearthing of illegal financial activities by three groups of operators.
 
A survey was conducted on one such group in the Naya Bazar area, that led to detection of bogus billing of about 18 thousand crores. The sources said, the group had floated a dozen bogus entities for providing fake bills.
 
In the second case, a money laundering racket was unearthed where current transactions in shares were fraudulently camouflaged as being sales of old shares held for years. The magnitude of the purported scam is estimated to be over one thousand crores.
 
The department similarly conducted searches against a group and found undisclosed foreign bank accounts and a well established racket of claiming bogus duty draw back or GST through over-invoicing of exports. Preliminary estimates of such bogus exports are more than 1,500 crore rupees.
 

Live Twitter Feed

Listen News

Morning News 24 (Aug) Midday News 24 (Aug) News at Nine 24 (Aug) Hourly 25 (Aug) (0605hrs)
समाचार प्रभात 24 (Aug) दोपहर समाचार 24 (Aug) समाचार संध्या 24 (Aug) प्रति घंटा समाचार 25 (Aug) (0600hrs)
Khabarnama (Mor) 24 (Aug) Khabrein(Day) 24 (Aug) Khabrein(Eve) 24 (Aug)
Aaj Savere 24 (Aug) Parikrama 24 (Aug)

Listen Programs

Market Mantra 24 (Aug) Samayki 24 (Aug) Sports Scan 24 (Aug) Spotlight/News Analysis 24 (Aug) Samachar Darshan 23 (Aug) Radio Newsreel 24 (Aug)
    Public Speak

    Country wide 22 (Aug) Surkhiyon Mein 22 (Aug) Charcha Ka Vishai Ha 21 (Aug) Vaad-Samvaad 20 (Aug) Money Talk 20 (Aug) Current Affairs 23 (Aug)