Bhubaneswar, Nov 23: The Enforcement Directorate (ED) on Saturday conducted simultaneous raids on the offices of ‘Z Estates’, a real estate company functioning in the Twin Cities, over alleged illegal transaction of forex.
The Central agency has also raided the residence of real estate company’s Director to rule out the alleged foreign currency transactions in its business.
According to reports, the sleuths of ED are now scanning at least 11 places associated with the real estate company and verifying the records that are corroborating the tip-off.
Sources said, hefty amounts of hard cash were seized from the ‘Z’ Estate Head Offic at Acharya Vihar and Z One apartment in Patia in Bhubaneswar.
Apart from it, the ED sleuths have reportedly seized company’s documents. Banking details, passbooks, balance sheets, annual statements, investment papers and e-transaction database in this connection.
Raids are underway. Statements of the ED officials regarding the simultaneous raids and the agency’s findings so far, are yet to be sourced.
