CBI Books 51 Entities For Transferring Rs 1,038 Crore Black Money To Hong Kong In 2014-15
The 51 entities were mostly owned by Chennai residents.
The Central Bureau of Investigation has booked 51 entities for allegedly remitting Rs 1,038 crore of black money to Hong Kong during 2014-15, officials said on Monday.
It is alleged that 51 entities, mostly owned by Chennai residents, allegedly remitted Rs 1,038 crore unaccounted black money to Hong Kong in connivance with unidentified officials of three state owned banks -- Bank of India, State Bank of India and Punjab National Bank, they said.
The Central Bureau of Investigation had received the information that 51 current accounts of 48 firms were opened in four branches of these banks "solely for effecting outward remittances" to the tune of Rs 1,038.34 crore, the officials said.
The CBI has alleged that 24 accounts were used for outward foreign remittances in U.S. dollars equivalent to Rs 488.39 crore as advance payment of goods' import and 27 were used to remit Rs 549.95 crore towards foreign travel of Indian tourists.