The enforcement directorate (ED) has served notices to six nationalised banks in Madhya Pradesh for allegedly issuing 10% of the new banknotes seized by Delhi police from a law firm in the national capital earlier this month.
More than Rs 13 crores in cash, including over Rs 2.5 crores in new Rs 2000 notes were seized by the Delhi police’s crime branch during a raid at the office of the Rohit Tandon’s T&T law firm in Greater Kailash-I on December 12.
The case was subsequently handed over to the income tax department for investigation.
Of the seized amount, Rs25 lakh was ostensibly issued by the banks now under scanner in Madhya Pradesh.
The detailed analysis of the serial numbers of the confiscated Rs 2000 notes revealed they were issued from the six banks in MP, sources in the enforcement agency involved with the money laundering probe confided to Hindustan Times on Wednesday.
The banks were asked to submit details of the notes issued, to whom and when they were issued, the sources said.
3 cooperative banks in Ujjain and 10 shell companies under ED scanner
At least three cooperative banks operating in Ujjain region of MP also came under the ED scanner for enabling at least 10 shell (bogus) companies park black money in the form of the scrapped Rs 500 and Rs 1000 banknotes between November 9 and November 11.
Sources privy to the developments told HT that several crores of rupees were parked in old currency notes with the three banks within a span of just three days.
The ED has sent notices to the banks seeking details of the account holders who had deposited the heavy volume of old currency notes in just three days after demonetisation of the high-value currency on November 8.
Sources said the investigations into the matter could well lead to busting of a major money laundering racket involving the 10 shell companies registered in and around Indore.
Shell companies are non-trading companies used as a vehicle for various financial maneuvers (like money laundering) or kept dormant for future use in some other capacity.
Meanwhile, MP minister of state (independent charge) Vishwas Sarang said in Bhopal that whatever information the ED had sought would be furnished to the enforcement agency. The information was already provided to the income tax department.
The six banks had allegedly issued 10% of the new notes to Rohit Tandon’s T&T law firm in Delhi
The enforcement directorate served notices after seizure of more than ₹13 crore in cash from the law firm by Delhi police crime branch
ED has asked the banks to n submit details of the notes issued, to whom and when they were issued
Three cooperative banks in Ujjain and 10 shell companies are also under ED scanner for allaged money laundering