Rs 7.3 crore in currency and 5.5 kg gold have been seized by Enforcement Directorate (ED) during search operations post demonetisation, the government said on Tuesday.
18 persons were arrested and 17 other where identified in relation with the alleged money laundering activities following demonetisation move, Finance Minister Arun Jaitley said in a written reply to the Rajya Sabha.
“Post demonetisation…, the Enforcement Directorate has conducted searches under Foreign Exchange Management Act, 1999 (FEMA) and Prevention of Money Laundering Act, 2002 (PMLA). ED has arrested 18 persons and identified 17 others. As a result of these searches, total amount of Rs 7.30 crore and gold weighing 5.538 kg have been seized,” Jaitley said.
The minister said that the Income Tax department conducted enforcement action (searches, seizures and surveys) in more than 1,100 cases during the period November 9, 2016 to January 19, 2017 and more than 5,100 notices were issued for verification of suspicious high-value cash deposits in bank accounts during the same period.
Jaitley informed that the actions led to the seizure of amount more than Rs 610 crore which includes Rs 513 crore in cash.