GRI

ED, Bhubaneswar has conducted search operations at 09 locations in Odisha, Delhi and Gurugram under the provisions of FEMA, 1999 on 22.11.2024 in connection with an investigation being carried out against M/s Z Estates Private Limited (ZEPL) & others. During the search operations, unaccounted cash amounting to Rs. 1.39 Crore and various incriminating documents have been recovered and seized

News Anti-Bribery & Corruption Sanctions & Fines
Date: 25th Nov, 2024 Source: Enforcement Directorate (ED) Country: India Original Source

Brief

"On "25/11/2024", the "Enforcement Directorate (ED)" issued an update regarding "ED, Bhubaneswar has conducted search operations at 09 locations in Odisha, Delhi and Gurugram under the provisions of FEMA, 1999 on 22.11.2024 in connection with an investigation being carried out against M/s Z Estates Private Limited (ZEPL) & others. During the search operations, unaccounted cash amounting to Rs. 1.39 Crore and various incriminating documents have been recovered and seized". The investigations are linked to alleged violations of FEMA, 1999, including round tripping of funds through foreign entities and probable hawala transactions.

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Enforcement Directorate (ED)

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