ED seizes over Rs 30 lakh Indian, foreign currency in major multi-state raid

New Delhi: The Enforcement Directorate (ED) has confiscated Rs 30.50 lakh, along with 6,410 Euros, 3,062 USD, five Singapore Dollars, and 2,750 Swiss Francs, during a multi-state operation last week, the agency said on Thursday.
The raid, conducted under the Foreign Exchange Management Act (FEMA), 1999, also resulted in the seizure of digital devices and various incriminating documents.
Multiple teams of the federal agency carried out the search operation at fourteen locations in Mohali (Punjab), New Delhi, Noida (Uttar Pradesh), Ghaziabad (Uttar Pradesh) and Mumbai (Maharashtra) in connection with the investigation regarding receipt of huge and irregular foreign inward remittances by Vuenow Marketing Services Ltd, Vuenow Infotech Pvt Ltd and Zebyte Rental Planet Pvt Ltd in lieu of providing database and data processing services.
The raids were conducted on October 17.
The searches were conducted at the office premises of these companies and the residences of key persons related to them resulting in the recovery and seizure of Indian currency and foreign currencies.