Kolkata: Enforcement Directorate (ED) has filed a case under the FEMA Act against a foreign currency exchange dealing company owned by Trinamool Congress leader Shankar Adhya, who was arrested by the central agency sleuths on January 5 in the ration distribution case.
The case against this company, sources said, was started after the ED sleuths got definite clues on a major portion of the ration distribution case proceeds which were first converted from Indian rupees to foreign currency and simultaneously, transferred mainly to Dubai through the Hawala route.
The ED counsel has already updated a special court of the Prevention of Money Laundering Act (PMLA) in Kolkata about the details on how the proceeds were channelized abroad through such foreign exchange and hawala routes.
Sources said that the two directors of the company are the arrested leader’s mother Shebani Adhya and brother Malay Adhya, but in reality Shankar Adhya was the steering brain behind the entity.
Sources said that as per the rule, the travel details of the individual, who is going for the foreign currency exchange, have to be submitted at the time of conversion as per the Foreign Exchange Management Act (FEMA), However, said sources, ED sleuths have got definite evidence that such basic norms were not adhered to by the said corporate entity at the time of conversion.
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 confidante of current West Bengal forest minister and former state goods & supplies minister Jyotipriya Mallick, who was arrested by the ED sleuths in October last year.
(IANS)
