The agency, last week, had seized foreign currency worth Rs 65 lakh, Indian currency of Rs 1.65 crore and incriminating hawala documents under the Foreign Exchange Management Act (FEMA) in search operations conducted here in a hawala case.
"The scrutiny of the seized papers and documents is yet to be completed. Investigations are on. Preliminary investigations suggest the volume of transactions could go up to a few hundred crore per month," an ED official said.
The central agency has been focusing its probe to find out whether this huge amount of money is being "misused" or used for any illegal activity, the official added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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