Kolkata, Jan 20 (SocialNews.XYZ) The Enforcement Directorate (ED) is seeking the help of the Reserve Bank of India (RBI) to get minute details of the foreign currency exchange transactions conducted in case of diverting the proceeds of the multi-crore ration distribution case in West Bengal.
The ED has already detailed at a special court of Prevention of Money Laundering Act (PMLA) in Kolkata about how the arrested Trinamool Congress leader in the case, Shankar Adhya, diverted several crores of the alleged scam proceeds first into foreign currency and subsequently overseas through the hawala route, mainly in Dubai and Bangladesh.
Sources said that the Central agency sleuths now want to corroborate their already secured findings in the matter with the apex bank of the country considering that the foreign exchange currency transaction dealings are governed under the rules framed by the latter.
The ED sleuths, sources said, have already identified some major deviations from the prescribed norms in the multi- crore foreign exchange dealings that have surfaced in course of the investigation in the ration distribution case.
As per norms, travel details of the individuals who are going for this foreign currency exchange needs to be submitted at the time of conversion of Indian rupees into foreign currencies under the Foreign Exchange Management Act (FEMA).
However, sources said ED sleuths have got definite evidence that such basic norms were not adhered to by the foreign exchange dealing entities linked to Adhya at the time of conversion.
The sources said that such conversions without following the proper procedures happen if the money converted is ill-gotten and unaccounted, and in this case the converted money was mainly the proceeds of the ration distribution case.
Adhya is currently in ED custody as ordered by the special court on Saturday. He is known to be an extremely close confidant of West Bengal forest minister and former state good & supplies minister Jyotipriya Mallick, who was arrested by the ED sleuths in October last year.
Source: IANS
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