| |
Saturday, November 6, 1999
Businessman held for hawala transactions
EXPRESS NEWS SERVICE
The Enforcement Directorate has arrested a businessman for running a hawala racket at Kalbadevi on Thursday. Officers of the Revenue Department raided Kalyankumar Shah's office, Andhra Express Services at Anganwadi, and recovered Rs 3.2 lakh and documents of hawala transctions. Investigations reveal that Shah was acting at the behest of one Haji based in Dubai. He is believed to have made payments to Hyderabad, Vijaywada, Mumbai, Chennai and Bangalore. Shah ha allegdly distributed more than Rs 5 crore through hawala channels and Rs 1.54 crore between October 25 and 28. He made a payment of Rs 22,98,500 on Wednesday. He has been booked under the Firign Exchange Regulation Act.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
Top
|
|
Printer-friendly page