Summary:
Enforcement Directorate officials on Thursday conducted simultaneous raids on foreign currency exchange agencies in Kolkata and seized crores in rupees as well as documents. The agencies raided would charge a nominal fee as opposed to licensed centres, said sources, adding the owners of the establishments would be questioned. Sources said the officers also recovered documents pointing to a network of illegal foreign money exchange centres and hawala businesses in Kolkata. They said officials raided five places in Marques street, 1 Sudder Street, Kalakar Lane and Park Lane, and that raids were on in nine locations at the time of filing this report. AdvertisingED sources said the operation, involving more than 30 officers, was carried out based on specific intelligence regarding dealings in such agencies without permission from Reserve Bank of India..