ED raids shell firms at 110 sites in 17 states

The Enforcement Directorate (ED) on Saturday conducted coun­try-wide sear­ches at over 100 locations as part of its major crackdown on 500 shell companies suspected to be generating huge amounts of black money

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New Delhi: The Enforcement Directorate (ED) on Saturday conducted coun­try-wide sear­ches at over 100 locations as part of its major crackdown on 500 shell companies suspected to be generating huge amounts of black money.

The raid operations across 17 states began early Saturday morning with ED sleuths swooping down at market places, business centres, residential premises and even houses put up on rent to hunt down the allegedly dubious and suspicious firms which the agency believes are the "back bone" of black money in the country.

By the last update, ED teams had visited at least 110 locations in cities like Kolkata, Mumbai, Ahmedabad, Panaji, Kochi, Bengaluru, Hyderabad, Delhi, Lucknow, Patna and Haryana, among others.

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