ED seizes Rs 10L new notes; Rs 16L forex in Punjab

The Enforcement Directorate on Friday seized Rs 10 lakh cash in new notes apart from Rs 16 lakh worth foreign currencies after it conducted searches on the premises of a forex dealer in Punjab.

Officials said the agency conducted the operation under the provisions of the Foreign Exchange Management Act (FEMA) against a trading firm, identified as G H Purchase, as part of its operations against black money holders post demonetisation. “A total of Rs 10 lakh cash in new notes has been seized along with Rs 16 lakh worth of foreign currency from various countries. The investigations in the case are ongoing,” they said.