In an operation that reads more like a thriller than a routine crackdown, the Enforcement Directorate (ED) has made a startling discovery — a cache of Rs 2.54 crore stashed away inside a washing machine. This find was part of a broader operation under the Foreign Exchange Management Act (FEMA) spanning several major Indian cities including Hyderabad, Delhi, Mumbai, Kurukshetra, and Kolkata.
The focus of these searches was Capricornian Shipping & Logistics Pvt Ltd along with its directors, Vijay Kumar Shukla and Sanjay Goswami, and related entities. These included a network of companies such as Laxmiton Maritime, Hindustan International, Rajnandini Metals Limited, Stawart Alloys India Pvt Ltd, Bhagyanagar Limited, Vinayak Steels Limited, and Vashishta Constructions Pvt Ltd, as well as their directors or partners, notably Sandeep Garg, Vinod Kedia among others.
The ED initiated these investigations following leads that suggested these entities were heavily involved in illicit foreign exchange dealings. Notably, suspicious transactions amounting to Rs. 1800 crore were made to Singapore-based Galaxy Shipping & Logistics Pte Ltd and Horizon Shipping & Logistics Pte Ltd, companies managed by Anthony De Silva.
Investigations revealed that under the guise of fraudulent freight services and imports, significant sums were remitted overseas. This was further complicated by a series of intricate transactions through various shell companies such as Neha Metals, Amit Steel Traders, Triple M Metal and Alloys, and HMS Metals, adding layers of complexity to the financial web.
The operation’s climax came with the discovery of Rs 2.54 crore in unexplained cash, ingeniously concealed within a household washing machine. This seizure, alongside a trove of incriminating documents and digital devices, marks a significant milestone in the ED’s investigation. Additionally, the freezing of 47 bank accounts linked to the entities involved signifies the operation’s extensive reach and impact.
The investigation continues to unravel the depth of these financial irregularities, with the ED at the helm of exposing the full extent of this intricate scheme.