I-T Dept raids Chinese national in Delhi-NCR, busts hawala racket of Rs 300 crore

The Income Tax Department on Tuesday busted a big nexus of Chinese companies using the hawala network in India. Following inputs from the intelligence agencies, the I-T Department carried out searches at 21 locations in Delhi, Ghaziabad and Gurugram and apprehended the man.

So far, the agencies have uncovered a hawala operation of more than Rs 300 crore but officials privy to probe said the final figure can go into thousands of crores.