CHANDIGARH -- The Enforcement Directorate on Wednesday seized ₹2.19 crore from here as part of its operation to check hawala trade in the wake of demonetisation.
Officials said the sleuths of the agency swooped down on the premises of the cloth trader and few other locations here, based on a tip off received by them about huge illegal currency stashing.
While the ED said ₹18 lakh in new notes was recovered, Punjab Police said ₹69.35 lakh in new currency was recovered during the raid.
The action has been taken under the provisions of the Foreign Exchange Management Act (FEMA) and the searches are still on, they said.
Chandigarh DSP Ram Gopal said a team led by ED's Deputy Director Gurnam Singh conducted a raid and seized ₹1.50 crore in demonetised currency and ₹69.35 lakh in new currency.
The raid was carried out at house of one Inderpal Mahajan. He has been arrested and a case has been registered against him, the DSP said.
He said the ED team has seized notes for further verification.
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