Cash found in shop belongs to high-profile persons in NC
The Income Tax (I-T) Department on Sunday busted a well-heeled hawala racket that was functioning in Naya Bazar of Chandni Chowk in the national Capital and recovered Rs 25 crore in cash from 100 lockers in a private vault from a shop.
According to an official who was part of the raiding party, the seized cash was unaccounted one and allegedly belonged to some big players who run their illegal money transfer business from the area. Gutkha, chemical and dry fruit traders were making and receiving big payments through hawala channels, said the source.
Sources said teams of I-T sleuths swooped upon eight places across the national Capital as there was specific input about hawala operators dealing in cash.
Initial probe suggested that the vaults were being managed by hawala players and they chose an ordinary place to avoid any suspicion to keep their money, said sources. The cash allegedly belonged to some high-profile individuals based in the National Capital Region (NCR), including tobacco, chemical traders and dry fruit dealers. Sources believe that these businessmen have international links.
This is the third major “locker operation” carried out by the investigating agencies this year. The Enforcement Directorate (ED) in September raided multiple locations in Delhi and Mumbai in connection with a Rs 700 crore Dubai-linked hawala racket and had seized Rs 29 lakh cash and a number of documents.
The I-T raids, sources said, were linked to the businesses and alleged illegal financial transactions linked to a Dubai-based hawala operator Pankaj Kapur. He is already under investigation by the Central probe agency in a hawala case to the tune of Rs 3,700 crore.
It may be recalled that in January 2018, the I-T department had seized more than Rs 40 crore in cash from another private vault in the upmarket South Extension Part 2 in South Delhi.