An Income-Tax Department team on Sunday busted 'Hawala' racket by raiding at a private vault in Delhi's Chandni Chowk area and seized cash worth Rs. 25 crore from over 100 lockers. The raids were carried out in at least eight locations across the city I-T Department sources told news agency ANI.
As per the Preliminary investigations, hawala traders were using the private lockers to keep their money, reported NDTV.
Delhi: Income-Tax Department raided a private vault at Chandni Chowk & recovered Rs 25 crore in cash from more than 100 lockers. pic.twitter.com/7T7IyyWhHy— ANI (@ANI) December 1, 2018
As per a report by NDTV, “the cash allegedly belonged to some high profile individuals based in the National Capital Region (NCR), including tobacco traders, chemical traders and dry fruit dealers. Sources believe that these businessmen were apparently involved in hawala trading and had big international links.”
Reportedly, this is the third major 'locker operation' carried out by the investigating agencies this year. The ED raided multiple locations in Delhi and Mumbai in connection with an Rs. 700 crore Dubai-linked hawala racket and seized Rs. 29 lakh cash and a number of documents in September.