ED Seizes Rs 1.39 crore From Realtor In Odisha

BHUBANESWAR: The Enforcement Directorate (ED) on Monday said they seized Rs 1.39 crore in cash and various incriminating documents during a search operation carried out on premises linked to a real estate company in Odisha. The simultaneous searches were conducted at nine places of Odisha, Delhi and Gurugram on November 22.

"ED, Bhubaneswar has conducted search operations at 09 locations in Odisha, Delhi and Gurugram under the provisions of FEMA, 1999 on 22.11.2024 in connection with an investigation being carried out against M/s Z Estates Private Limited (ZEPL) & others. During the search operations, unaccounted cash amounting to Rs. 1.39 crore and various incriminating documents have been recovered and seized," the ED said in an ‘X’ post on Monday.

According to ED, they inquired into the sources of income, the origin of transaction initiation points, and contacts through which forex transfers took place.