Probe Agency Seizes Over Rs 3.50 Crore During Raid On Tour Firms In Delhi

New Delhi: The Directorate of Enforcement (ED) conducted searches under Foreign Exchange Management Act (FEMA) at eight different locations in Delhi and Ghaziabad including residences and offices of Directors of several tours and travel companies and their Chartered Accountants on July 9, 2020.

The searches resulted in seizing unaccounted Indian currency amounting to Rs 3.57 crores along with several incriminating documents and digital records.

Investigations under FEMA were initiated against various entities including tour and travel companies on the basis of specific inputs that these entities were involved in the unauthorized receipt of foreign remittances through payment gateways in the name of providing e-visa services to foreigners.