Chennai (Tamil Nadu) [India], March 13 : Enforcement Directorate (ED), Chennai, conducted search operations at various premises across many districts of Tamil Nadu under the provisions of PMLA, 2002, for various offences related to Tamil Nadu State Marketing Corporation Limited (TASMAC) and its associated entities/persons, said an official statement from the Central agency.
In a post on X, ED said, "ED, Chennai has conducted search operations at various premises across many districts of Tamil Nadu on 06.03.2025 under the provisions of PMLA, 2002, for various offences related to Tamil Nadu State Marketing Corporation Limited (TASMAC) and its associated entities/persons. During the search operations, various incriminating documents were recovered and seized."
https://x.com/dir_ed/status/1900178289156866072
Earlier, the ED seized Rs 10 lakh, incriminating records and digital devices during raids conducted at 16 places in Rs 400 crore foreign remittance case, the agency said on Monday.
ED's Jaipur zonal seized the cash and incriminating materials during searches conducted on March 7 at sixteen locations in Jaipur, Ajmer, Udaipur, Noida and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the money laundering investigation related to a case wherein huge illegal foreign remittances have been made in lieu of the gold, diamond and precious stones smuggling.
The ED said it initiated an investigation on the basis of various complaints filed by Customs (Preventive), Commissionerate, Jodhpur u/s 132 and 135 of the Customs Act, 1962, before the Chief Metropolitan Magistrate (Economic Offences), Jaipur, which revealed that approximately Rs 400 crore were remitted to various overseas entities based in Hong Kong and UAE through various bank accounts of Belstar Techno Solution (OPC) Pvt Ltd and Visual Bird Technology, after routing through a web of multiple shell companies, in the guise of the import of services that were never received.
However, the agency said, in actuality, the funds were remitted outside India against the illegal import of gold, diamonds and precious stones.