Hawala racket worth Rs 4,000 cr busted
| Date :06-Apr-2019 |
Staff Reporter:
“JABALPUR:
Since four to six years the accused was running this business in the name of a consultancy organisation named Ishika Enterprises
For every Rs one lakh transaction, a commission of Rs 300 was charged for delivering or collection of money
unit of Investigation Wing of Income Tax Department on Friday busted a big Hawala racket worth Rs 4,000 crore. Action taken by the Income Tax Department is a result of its own research and strategy. In days to come the case will unearth more secret transactions and hidden accounts,” claimed Ashish Deharia (IRS), Joint Director of Income Tax Jabalpur Investigation Wing, while talking exclusively to ‘The Hitadava’. Deharia claimed that the department did not get any input from any Government agency. One of the informers gave information about cash transaction of nearly Rs 55 lakh. Acting on the tip-off, the investigation wing swung into action and started search. After getting satisfactory input about the Hawala business, the team of Investigation Wing took action.
Using full potential, the team cracked one of the biggest illegal financial business, which was going on in the heart of the city. From the raids conducted recently at residence and office of Lalu Lalwani in Shanti Nagar, Jabalpur, the team seized detailed information about business connections in different cities of the country. On examining seized computers, laptops and paper records, we have found transactions worth Rs 4,000 crore made in different cities of the country including Mumbai, Nagpur and Delhi from Jabalpur. Earlier, a few months back, the IT Investigation Team had unearthed Rs 1800 crore Hawala transaction by raiding office of Deepak Panjwani, added Deharia.
Informing about the modus-operandi adopted by the Hawala operator, the Joint Director apprised that accused had deployed a team of 20 men and women for delivery and collection of money. From the records, names of around 20 boys and girls have been noted who operate on field collection and delivery of Hawala cash from traders, bureaucrats, officials and political people.
“In our research we have got city-wise, party-wise details, account-wise details and also network-wise details from records maintained in computers using Tally Software. On checking records, it is found that since four to six years the accused was running this business in the name of a consultancy organisation named Ishika Enterprises but had not shown any income through any activity in his business returns. He added that for every Rs one lakh transaction a commission of Rs 300 was charged for delivering or collection of money. The amount of money earned by the accused in this could be accessed if transactions are touching to Rs 4000 crore, he added.
Recent raids of Income Tax Department, Investigation Wing portrays a different picture of Jabalpur as in recent months operation of huge Hawala business has been unearthed. According to sources in the department, a new team of officials in I-T Department from Delhi, Nagpur, Mumbai and Banaras is working in the department with honesty having no local interference.