Over 300 shell companies raided by ED across India for alleged money laundering

01 April 2017, 12:24 PM

In one of the biggest crackdowns on Shell companies, the Enforcement Directorate (ED) has conducted searches at 100 locations across India.

At present over 300 shell companies have been identified and are under scanner. These companies are accused of being involved in money laundering. These raids have been carried out at shell companies in Delhi, Patna, Chandigarh, Ranchi, Ahmedabad, Bangalore, Chennai and other metro cities.

The Directorate has been combing through the records of operators who run shell companies and are suspected to have converted black money into white.

First Published: Saturday, April 01, 2017 11:44 AM

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