I-T dept raids on Chinese firms in Delhi-NCR over hawala operations

The Income Tax department has raided over two dozen premises of Chinese firms in Delhi-NCR region for suspected links to money laundering and hawala transactions. “Based on credible information that a few Chinese individuals and their Indian associates were involved in money laundering and hawala transactions through a series of shell entities, a search action was mounted at various premises of these Chinese entities, their close confederates and a couple of bank employees,” the I-T department said.