ED's Major Crackdown: Raids in Delhi & Goa Targeting Hawala Operations

The Enforcement Directorate (ED) initiated raids in Delhi and Goa targeting hawala operators to expose illegal foreign remittances and assets in Dubai. The operation, linked to prominent industrialist Anil Ambani, seeks to unveil a larger network of hawala activities and undisclosed foreign holdings under FEMA's provisions.

In a significant move, the Enforcement Directorate (ED) conducted extensive raids early Friday morning across multiple locations in Delhi and Goa. The operations targeted suspected hawala operators, initiated based on specific intelligence inputs, with the local police forces actively coordinating efforts.

The raids, directed by the ED's headquarters, were carried out under the Foreign Exchange Management Act (FEMA), focusing on uncovering undisclosed properties allegedly owned by Indian nationals in Dubai. The agency's investigation seeks to dismantle illegal foreign remittance networks and identify unaccounted investments funneled out of India through hawala channels.

Evidence suggests that funds were illicitly sent abroad, breaching FEMA regulations, and utilized in acquiring high-value assets in Dubai. In a connected development, ED summoned industrialist Anil Ambani in relation to illegal remittances and undisclosed foreign assets linked to his companies. The probe highlights a specific case involving a Rs 40 crore siphoning from a highway project, with alleged hawala connections stretching to over Rs 600 crore, predominantly utilizing shell entities.

(With inputs from agencies.)