The Enforcement Directorate (ED) has made significant discoveries during recent searches conducted in Delhi, Hyderabad, Mumbai, Kolkata, and Kurukshetra. The searches targeted several companies and their directors, 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. Directors and partners of these companies, including Vijay Kumar Shukla, Sanjay Goswami, Sandeep Garg, and Vinod Kedia, are currently under investigation.
These searches were initiated based on credible information suggesting involvement in large-scale foreign exchange violations. The entities in question allegedly made suspicious outward remittances amounting to ₹1,800 crore to Singapore-based Galaxy Shipping and Logistics and Horizon Shipping and Logistics, both managed by Anthony De Silva. Transactions involving Capricornian Shipping and Logistics, Laxmiton Maritime, and affiliated entities purportedly sent funds to these overseas entities under the guise of fictitious freight services and imports. Such transactions were facilitated through intricate dealings with shell entities like Neha Metals, Amit Steel Traders, Triple M Metal and Alloys, and HMS Metals.
During the searches, the ED seized unexplained cash totaling ₹2.54 crore, with a portion concealed within a washing machine. Additionally, various incriminating documents and digital devices were confiscated. As part of the ongoing investigation, 47 bank accounts linked to the involved entities have been frozen.
These findings shed light on potential violations of foreign exchange laws and underscore the ED’s commitment to combatting financial malpractice and money laundering activities. The investigation continues to unravel the complexities of these transactions and hold those involved accountable for their actions.
