Enforcement Directorate gets extension in BOB Forex case

October 17, 2015

PerformanceGurus Staff

New Delhi, Oct 17

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]A[/dropcap] court here on Saturday allowed Enforcement Directorate (ED) to quiz, till October 23, four accused arrested in connection with illegal forex transfer case involving Bank of Baroda. This was reported in our site on October 10th. Additional Sessions Judge Manoj Jain extended police custody of four accused — Kamal Kalra, Chandan Bhatia, Gurucharan Singh and Sanjay Aggarwal — who were allegedly involved in the case.

All the accused, arrested on Tuesday, were presented before court after expiry of the four day police custody. ED’s public prosecutor N.K. Matta sought custody saying that the beneficiary of forex transactions has to be identified.

The court, while allowing ED plea, noted Matta’s submission that detailed interrogation of accused will help in recovering of some documents, which are voluminous in nature. The ED prosecutor told court that questioning of accused will help to unearth the money trail and ascertaining the proceeds of crime which is serious in nature.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]T[/dropcap]he case pertains to the transfer of Rs.6,172 crore 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.

Note:
1. Some of the content is used from IANS.
2. Text in Bold points to additional data on the topic.