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  Metros   Mumbai  29 Apr 2018  Payments made via hawala king’s account

Payments made via hawala king’s account

THE ASIAN AGE. | SAURABH M JOSHI
Published : Apr 29, 2018, 2:19 am IST
Updated : Apr 29, 2018, 2:19 am IST

The remittances were for at least 25 import consignments, from JNPT & Mumbai ports, with actual declaration of Rs 3.14 crore, officials later found.

The remittances were for at least 25 import consignments, from Jawaharlal Nehru Port Trust (JNPT) and Mumbai ports, with actual declaration of Rs 3.14 crore, officials later found.
 The remittances were for at least 25 import consignments, from Jawaharlal Nehru Port Trust (JNPT) and Mumbai ports, with actual declaration of Rs 3.14 crore, officials later found.

Mumbai: Investigation by the Enforcement Directorate (ED) into the money-laundering activities of hawala operator Mohammad Farooq Shaikh revealed that remittances were made via the bank account of Ms Stelkon Infratel Pvt Ltd (SIPL) from Punjab National Bank’s Mandvi branch.

The remittances were for at least 25 import consignments, from Jawaharlal Nehru Port Trust (JNPT) and Mumbai ports, with actual declaration of Rs 3.14 crore, officials later found.

 

The accused also executed 96 foreign remittances to the tune of Rs 216.38 crore from bank accounts in Canara, State Bank of Hyderabad, Corporation Bank, Axis Bank and Central Bank of India, all in Mumbai.

“Farooq’s accomplices Manish Shyamdasani and Mungaram Dewasi were part of the foreign exchange remittances’ fraud between 2015 and 2016. It was to the tune of Rs 463.74 crore. The remittances were made via the bank account of Ms Stelkon Infratel Pvt Ltd (SIPL) from Punjab National Bank’s Mandvi branch,” said an ED officer.

The remittances were for at least 25 import consignments, from JNPT and Mumbai ports, with actual declaration of Rs 3.14 crore, officials later found.

 

They also executed 96 foreign remittances to the tune of Rs 216.38 crore from bank accounts in Canara, State Bank of Hyderabad, Corporation Bank, Axis Bank and Central Bank of India, all in Mumbai.

Tags: enforcement directorate (ed), hawala, money laundering