Ahmedabad: The CID Crime Department of the Gujarat Police, in a joint operation with the Income Tax Department, conducted raids at around 12 Angadia firms in Ahmedabad and Surat late Thursday night.

During the raids, approximately Rs 10 crore in cash, along with jewelry and foreign currency, were seized. Authorities also uncovered evidence of hawala transactions and confiscated all relevant financial records and electronic devices for further examination by the Income Tax Department.

The raided firms, situated at Iskcon Arcade on CG Road, the Ratanpol area in Ahmedabad, and the Bhagal area in Surat, were allegedly engaged in illicit financial activities.

Rajkumar Pandian, additional director general of police (CID Crime), confirmed that the raids on angadia firms were part of an ongoing investigation. CID Crime officials had recently filed a case involving the alleged use of fake accounts for financial transactions, with three of these accounts reportedly linked to Dubai. Subsequently, multiple arrests were made, revealing connections between the fake accounts and angadia firms allegedly involved in money laundering schemes. DeshGujarat

🗃️ This story is from our archives and may contain outdated information.