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The Enforcement Directorate (ED) has recovered forex worth Rs 1.53 crore by conducting a search of a person at Kolkata Airport under the Foreign Exchange Management Act, 1999 (FEMA), the agency said on Monday.
The search was conducted on the basis of information received from the Airport Intelligence Unit, NSCBI Airport, Customs Kolkata on the night of May 21 that a passenger has been intercepted along with foreign exchange without any explanation. "During the search, 1998 number of foreign currencies consisting of 1,65,000 USD and 30,460 Euro (total equivalent to Rs 1.53 crore) were found in the possession of the passenger," said the ED. However, the passenger has failed to provide the source of foreign exchange and the purpose of travelling with such a huge amount of foreign exchange without any valid document. Accordingly, the ED said, the currency was seized under FEMA. The passenger travelled from Gorakhpur to Kolkata by domestic flight, it added. (ANI)
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