ED searches tour and travel companies in Delhi, Ghaziabad; seizes Rs 3.57 crore in FEMA case
Jul 11, 2020
New Delhi [India], July 11 : The Enforcement Directorate (ED) has conducted searches at eight locations of tour and travel companies in Delhi and Ghaziabad in a case related to unauthorized foreign exchange dealings and seized Rs 3.57 crore cash.
According to the ED, several incriminating documents and digital records were also recovered in the searches at these premises.
"ED seizes cash of Rs 3.57 crores and incriminating documents under FEMA (Foreign Exchange Management Act, 1999), as a result of searches conducted at eight different locations of tour and travel companies in Delhi and Ghaziabad in a case related to unauthorized dealings in foreign exchange," the ED tweeted.
The economic offences watchdog said that the searches were conducted at eight different locations in Delhi and Ghaziabad on July 9 including the residences and offices of Directors of several tour and travel companies and their chartered accountants.
"The probe under FEMA, 1999 were initiated against various entities including tour and travel companies on basis of specific inputs that they were involved in the unauthorised receipt of foreign remittances through payment gateways in the name of providing e-visa services to foreigners," the ED said.
