"During the course of search, ED has seized 17 hard disks, five laptops, phones, crucial incriminating documents and has also frozen Rs 46.96 crore held in 4 HSBC Bank accounts," it said.
The money laundering case is based on an FIR filed by the Telangana Police against the accused early this year, it added.
According to the statement, the probe found out that "with the help of some Indian chartered accountants, some Chinese nationals floated multiple Indian companies."
"Initially dummy Indian directors were used to incorporate the companies and after some time Chinese nationals travelled to India and took directorship in these companies," it said.
"Some locals were hired and used to open bank accounts with HSBC Bank and open trade accounts with online wallets namely Paytm, Cashfree, Razorpay, etc." the ED said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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