The Enforcement Directorate (ED) is keeping a close eye on some exporters and builders for their alleged involvement in multi-crore hawala transactions, besides for suspected links with drug kingpin Raja Kandola.
“We have conducted raids on several premises recently. We have found that several NRIs are in touch with drug kingpin Raja Kandola,” a highly placed source in the ED said.
These exporters evade tax and claim incentives amounting to crores of rupees through exaggerated billing, sources said.
A list of such exporters has been prepared and investigations are on, they added.
Prominent hand-tool exporters from Jalandhar are allegedly on the department’s list for evasion of tax and channeling hawala money into their business.
Property worth Rs.700 crore is likely to be attached for alleged links of their owners with Kandola, sources said.
ED sources added that drug kingpin Ranjit Singh alias Raja Kandola was just a front-man for “well-connected bigwigs in politics, administration and police” engaged in shady drug and property deals.
Kandola was arrested in August 2012, in connection with a drug smuggling case worth at least Rs.200 crore.
Sources said that 21 raids in different parts of Punjab, Haryana, Delhi and Chandigarh have already been conducted to reach a conclusion on the nexus between NRIs and Kandola.
In Jan 2010, a racket of manufacturing high-end drugs was unearthed with the recovery of 18 kg synthetic intoxicants -- Methamphetamine -- worth over Rs.90 crore.
The drug is known as ‘Ice’ and ‘Speed’ in party circles, and considered to be more expensive than heroin.