I-T un­earths onion traders’ hawala links

The Times of India (New Delhi edition) - - TIMES NATION - Tushar.Pawar@ times­group.com

Nashik: Af­ter ac­cu­sa­tions of hoard­ing and black-mar­ke­teer­ing, prom­i­nent onion traders in Nashik now face al­le­ga­tions of hawala trans­ac­tions and links with Dubai.

The in­come tax (I-T) depart­ment, which con­ducted raids on seven ma­jor onion traders in Nashik dis­trict, re­port­edly has ev­i­dence of their in­volve­ment in hawala trans­ac­tions.

Dur­ing the searches, con­ducted over two days, the traders were found to own as­sets dis­pro­por­tion­ate to their known sources of in­come.

I-T depart­ment sources told TOI, “We re­cov­ered ev­i­dence prov­ing that the traders are in­volved in hawala trans­ac­tion with links to Dubai… The traders used to show ex­port and im­port of onions. How­ever, no ac­tual ex­port or im­port took place, though money was trans­ferred.”

“We have also found ev­i­dences that these onion traders were of­fer­ing cash loans with in­ter­est rates of up to 3% per month,” they added.

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