Categories: Black MoneyNews

6000 crores Forex transfer case accused in judicial custody

PG Staff

New Delhi, Oct 23

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]A[/dropcap] court here on Friday sent, to 14 days judicial custody, four accused arrested by Enforcement Directorate (ED) in connection with illegal forex transfer case involving Bank of Baroda. District and Sessions Judge Yogesh Khanna remanded four accused — Kamal Kalra, Chandan Bhatia, Gurucharan Singh and Sanjay Aggarwal — to judicial custody after they were presented before court after expiry of the six days police custody.

ED’s public prosecutor N.K. Matta requested court to sent them in judicial custody saying that they are not required for further investigation.

The case pertains to the transfer of ₹6,172 crore ($952.76 million) in foreign exchange through a Bank of Baroda branch to Hong Kong. The money was transferred through 59 bank accounts to companies in Hong Kong and Dubai for fake import and export businesses.

1. The conversion rate used in this article is 1 US Dollar = 64.78 Rupees.
2. Some of the content is used from IANS.


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