- विज्ञापन -
New Delhi: The Enforcement Directorate (ED) has cracked down on the firms which were siphoned off money to China in the name of ordering goods from there. According to ED officials near about Rs. 50 thousand crore has siphoned off from India to via invoice tactics.
These Firms/companies have violated both anti-money laundering and foreign exchange regulations. The Economic Intelligence Agency has charged these companies for violation of anti-money laundering and forex rules. Indian companies were doing this to evade taxes and whatever taxes were evaded, they used to get it through hawala. Top ED officials said Companies importing high-end furniture, electronic goods, gadgets and leather items, mainly from China. All these kinds of companies have come under the Enforcement Directorate scanner.
According to ED officials, Indian companies have send money through different sources. They send money to China through Hawala, cryptocurrencies and by mode of cash payments. Sources said that the crackdown is part of a broader government effort to curb illegal financial flows and strengthen the country’s economic security. The ED’s probe is expected to widen, as the agency tracks the suspected misuse of funds and further evaluates financial activities tied to Chinese imports.
