New Delhi: The Enforcement Directorate on Saturday launched a nationwide crackdown against shell companies and conducted searches at 100 locations across 16 states to check the circulation of black money.
Multiple teams, comprising 300 officers, visited these locations and raided the premises of firms in prominent places like Delhi, Chennai, Kolkata, Chandigarh, Patna, Ranchi, Ahmedabad, Bhubaneswar and Bengaluru among others.
The agency reportedly found more than 700 shell companies at one address in Mumbai.
It has also reportedly looked into shell companies allegedly linked to YSR Congress chief Jagan Mohan Reddy and former chief engineer of Noida, Yadav Singh.
The action is part of the mandate given to the ED under a Special Task Force (STF) that was recently created by the government on the directions of the Prime Minister’s Office (PMO).
The agency had recently attached assets worth crores of such firms.
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