The ED today conducted multiple searches against tax professionals and chartered accountants (CAs) in Delhi in connection with an operation to unearth black money being generated using shell companies.
Officials said the Enforcement Directorate teams searched premises of these professionals in Karol Bagh, Laxmi Nagar, Model Town, Azadpur, Dilshad Garden and few other areas as part of their probe in the generation of alleged stash funds to the tune of thousands of crores.
They said the agency is carrying out the raids as part of its mandate to check money laundering and hawala like transactions by usage of shell firms by misusing banking channels.
A clutch of over two dozen CAs, company secretaries and other tax professionals are being searched, they said, adding the action is part of a follow up of the country-wide searches the agency carried out early this month against 500 shell companies suspected to be generating huge amounts of black money.
“Our attention has been drawn to the media reports regarding the raids conducted by the Enforcement Directorate on the offices of the Chartered Accountants in New Delhi, who were alleged to be involved in the money laundering and hawala like transactions through shell companies.
The Disciplinary Directorate of the ICAI is already seized of the matter and has initiated the proceedings as per the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, against such Chartered Accountants who were alleged to be involved in the money laundering through dubious and suspicious companies.
The ICAI would like to inform that the matter will be dealt seriously to look into all the violations in these cases as per the Code of Conduct of the Institute and necessary action will be taken in accordance with the laws of the land.”
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