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Delhi: I-T division raids premises of Chinese entities, mates with suspected hawala hyperlinks for alleged money laundering


Contemporary Delhi: Essentially based on credible facts concerning Chinese americans and their mates being involved in money laundering and hawala, the Earnings Tax Division on Tuesday applied searches on the premises of Chinese entities, their confederates and some financial institution workers.

All the diagram in which thru the search action, it was revealed that at the behest of the Chinese nationals, bigger than 40 financial institution accounts have been created in dummy entities, whereby credit ranking of over Rs 1,000 crore have been entered into over the duration, an announcement by the Central Board of Thunder Taxes (CBDT) said.

Furthermore, it was also revealed that the subsidiary of a Chinese firm and its connected concerns took over Rs 100 crore bogus advances from shell entities for opening retail showrooms companies within the country.

Extra, incriminating documents revealing hawala transactions money laundering with the involvement of financial institution workers and chartered accountants have been chanced on all over the search action. The evidence of hawala transactions being completed the utilize of Hong Kong and US bucks have been also unearthed.

Extra investigation is underway.

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