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I-T Department continues raids on Chinese language contributors, local contacts in Rs 1,000-cr cash laundering case


Contemporary Delhi:  The Earnings Tax Department on Wednesday continued its raids towards some Chinese language contributors and their local associates in connection with its probe proper into a Rs 1,000 crore payment defective-border cash laundering racket the use of shell or doubtful companies, officers said.

The division, legit sources said, has seized a form of documents and computer peripherals and has recovered about Rs 60 to 70 lakh cash from extra than one premises in the Delhi-NCR role unless now.

The tax sleuths raided no longer lower than two dozen premises in Delhi, Gurgaon and Ghaziabad on Tuesday as fragment of the circulation below which it lined the Chinese language, just a few of their Indian associates and bank officers, the Central Board of Pronounce Taxes (CBDT) had said in an announcement.N

The division is questioning several folks and is in the contrivance to freeze a form of bank accounts linked to the accused and a few doubtful companies floated and operated by them, the sources said.

The division has detained a 42-twelve months-damaged-down Chinese language man, identified as Charlie Peng, imagined to be the kingpin of the racket and few diversified nationals of that nation on work visa in India are on its radar.

Charlie is allegedly holding a faux Indian passport and officers said he created a “net of sham companies to launder hawala funds to and from China” prior to now two-three years. They said his entrance or showcase trade used to be import and export of medical and electronic items and a few diversified items.

Charlie, the sources said, used to be arrested by the Special Cell of the Delhi Police in September, 2018 on costs of fraud and forgery and used to be allegedly running an unlawful cash changer. It is alleged that Peng bought a faux Indian passport from Manipur after marrying a girl from that impart.

The tax officers personal shared the knowing of alleged possession of pretend Indian passport with police authorities who are anticipated to book the Chinese language man for violation of the Passport Act.
Meanwhile, when requested for a response on the raids, a Chinese language foreign ministry spokesman in Beijing said he used to be no longer responsive to the particulars.

“However I will advise you that the Chinese language authorities requires Chinese language companies to search out out about global guidelines, local laws and laws, whereas doing trade out of the country,” he said. “We’re committed to safeguard the legit rights and pursuits of Chinese language companies and nationals,” the spokesperson said.

The CBDT in its assertion, with out taking any names, had said that the “subsidiary of Chinese language company and its connected concerns personal taken over Rs 100 crore bogus advances from shell entities for opening companies of retail showrooms in India”.

It said the searches had been launched according to “credible inputs that just a few Chinese language contributors and their Indian associates had been indignant by cash laundering and hawala transactions thru a assortment of shell entities.”

“Search circulation revealed that on the behest of Chinese language contributors, extra than 40 bank accounts had been created in diversified dummy entities, coming into into credit of extra than Rs 1,000 crore over the duration,” the CBDT had said.

“Incriminating documents of hawala transactions and cash laundering with energetic involvement of bank workers and Chartered Accountants were learned as a results of the quest circulation,” it said.

Evidences of foreign hawala transactions spirited Hong Kong and US dollars personal additionally been unearthed, the CBDT said. India no longer too long prior to now banned 59 Chinese language apps in the aftermath of a gentle stand-off between the militaries of the two international locations in Ladakh.

Contemporary Delhi has additionally amended the Typical Financial Principles, 2017, imposing restrictions on public procurement from bidders of international locations that part a land border with India, a switch that can straight personal an be aware on Chinese language entities.

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