₹ 6,000 Crore Was Sent Illegally To Hong Kong, How?

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New Delhi: The Central Bureau of Investigation has filed two supplementary charge sheets in connection with the alleged illegal remittance of ₹ 6,000 crore from Delhi’s Bank of Baroda branch to Hong Kong, camouflaged as payment for imports, sources said.
In the charge sheets filed before a special CBI court, the central agency has alleged that a group of people opened accounts and deposited funds through various accounts.
The CBI has named nine accused in the supplementary charge sheets: Tanuj Gulati, Ish Kumar, Ujjwal Suri, Hunney Goel, Sahil Wadhwa, Rakesh Kumar, Sagar Gulati, Bhanu Gulati, and VPC Management Consultants Pvt Ltd.
The agency had in 2015 charged several officials of the bank and others for allegedly making remittances of over ₹ 6,000 crore to southeast Asian countries by 59 current account holders from the Ashok Vihar branch of Bank of Baroda in the garb of purported payments for “non-existent” imports, the sources said.
The agency has found that the Ashok Vihar branch of the bank is a relatively new one and got the permission to entertain forex transactions only in 2013, they said, adding, ₹ 6,000 crore was transferred through nearly 8,000 transactions done between July 2014 and July 2015.
The amount remitted in each transaction was kept at less than $100,000.
“All the remittances were made to Hong Kong. The amount was remitted as an advance for import and in most of the cases, the beneficiary was the same,” an official had said after filing an FIR.
“It was revealed that most of the addresses given by the companies/firms were either false or the companies/firms did not exist at the said addresses.
Source: ndtv

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