During raids on a logistics company, Probe agency discover ₹2.5 crore cash hidden in a washing machine

The Enforcement Directorate (ED) has seized ₹2.54 crore cash in “unexplained” cash during searches in various cities, including some concealed in a washing machine, in a case of alleged violation of the foreign exchange law.

Several companies and their directors were searched, including Capricornian Shipping and Logistics Pvt Ltd, Laxmiton Maritime, Hindustan International, Rajnandini Metals Limited, Stawart Alloys India Pvt Ltd, Bhagyanagar Limited, Vinayak Steels Limited, and Vashishta Constructions Pvt Ltd. The directors and partners of these companies, including Vijay Kumar Shukla, Sanjay Goswami, Sandeep Garg, and Vinod Kedia, are also under investigation.

Over the past few days, authorities conducted searches at different sites in Delhi, Hyderabad, Mumbai, Kolkata, and Kurukshetra, Haryana. However, the ED did not reveal the location where the cash hidden in the washing machine was found.

Authorities took action based on “credible information” indicating that the entities were engaged in significant foreign exchange transactions outside India. They carried out “suspicious” outward remittances totaling ₹1,800 crore to Singapore-based Galaxy Shipping and Logistics and Horizon Shipping and Logistics.

These overseas entities are overseen by an individual named Anthony De Silva. Capricornian Shipping and Logistics, Laxmiton Maritime, and their affiliates transferred ₹1,800 crore to the Singapore-based entities, disguising the transactions as fictitious freight services and imports.

These transactions involved intricate dealings facilitated by shell entities such as Neha Metals, Amit Steel Traders, Triple M Metal and Alloys, and HMS Metals.

During the search, authorities discovered and seized unexplained cash totaling ₹2.54 crore, with a portion concealed in a washing machine. Additionally, several “incriminating” documents and digital devices were confiscated during the raids. Furthermore, a total of 47 bank accounts associated with the entities involved have been frozen.

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