#send money abroad from India

[zenithforex]

It has never been easier to transfer money abroad! Whether you want to send money to relatives, pay for foreign schooling, or conduct company operations, sending money from India to nations across the world is now quick, safe, and simple. With a choice of reputable online platforms accessible, you may send money overseas in minutes, taking advantage of favorable exchange rates and minimal transfer costs.

[poojasatyam]

Transfer Money Abroad and Make Your Loved Ones Smile

Transfer Money Abroad is a much easier process than you think! You can send money by visiting a bank branch, where you can fill up an A2 form to remit abroad. Alternatively, you can transfer money online in just a few clicks by making online transfers through a bank’s portal. You can also send money from India via remittance service providers and money exchangers.With these multiple options available, it is simple and convenient to remit money from India.An international money transfer can be done safely and conveniently through a bank’s online/offline remittance services through NEFT, RTGS, IMPS or UPI payment mode.Technological progress and increasing connectivity has made it both efficient and affordable to do so, with minimal effort on your part.

[zenithforexonline]

Zenith Forex offers Inward and Outward Remittance from India to abroad including Wire Transfer & TT, International Money Transfer or Foreign Exchange.

[orientexchange]

5 Easy Steps for Money Transfer to GIC Account from India

For individuals looking to study, work, or settle in Canada, a GIC (Guaranteed Investment Certificate) account is a crucial financial requirement. It demonstrates that you have sufficient funds to cover your expenses while residing in Canada. Transferring money to a GIC account from India is a straightforward process that involves a few essential steps.

Read More: https://orientremitbangalore.blogspot.com/2023/07/5-easy-steps-for-money-transfer-to-gic.html

[forexpeindia]

How to Send Money from India to Abroad Using Wire Transfer

Wire transfer is a reliable and convenient option if you need to send cash from India to another country. In this blog post, we'll explain what wire transfer is, how it works, and the steps involved in sending money from India to abroad.

What is Wire Transfer? 

Wire transfer is a digital transfer of funds from one bank account to another. It is also known as a bank transfer, electronic funds transfer (EFT), or telegraphic transfer. Wire transfers are typically used for sending large sums of money because they are fast, secure, and convenient.

How does Wire Transfer from India to Abroad Work? 

To start a wire transfer from India to abroad, you need to follow these steps:

Step 1: Initiate the Transfer Visit your bank or a money transfer agent and provide them with the details of the recipient's bank account. You will also need to provide your own bank account details and the amount you want to transfer.

Step 2: Verify your Identity Your bank or money transfer agent will verify your identity to prevent fraud and ensure that the transfer is legitimate. You will be required to provide identification documents such as your passport, driver's license, or Aadhaar card.

Step 3: Confirm the Exchange Rate Before the transfer is processed, you will need to confirm the exchange value that will be used to convert your Indian rupees into the currency of the recipient's country. Exchange rates vary constantly, so it is important to check the current rate before initiating the transfer.

Step 4: Transfer the Funds Once you have confirmed the exchange rate, the transfer will be processed. The money will be debit from your account and transferred to the recipient's account. The time it takes for the funds to reach the recipient's account depends on the recipient's bank and the country they are in.

Step 5: Track the Transfer After the transfer is complete, you can track the progress of the transfer using the tracking number provided by your bank or money transfer agent. This will allow you to know when the funds have been credited to the recipient's account.

Fees and Charges Wire transfers from India to abroad typically incur fees and charges. These fees vary depending on the bank or money transfer agent you use, the amount you are transferring, and the currency you are moving to. Some banks may also charge a fee for converting Indian rupees into the recipient's currency. It is important to check the fees before initiating the transfer to avoid any surprises.

Conclusion Wire transfers are a safe and convenient way to transmit money from India to other countries. Following the steps referred above, you can ensure your transfer is handled quickly and efficiently. However, it is critical to understand the fees and taxes involved with wire transfers and to validate the currency rate before proceeding.

[oct0bra1ns]

HONESTLY; Indian yandere who knows so many languages and learns your state language, culture, and everything. because India is diverse, and he just wants to appeal more to you. AND if you are from a different religion, well, he could just pretend y'know. it's not like such marriages are uncommon in India, and in the end, he will just kidnap you ! but don't worry, you can still practice your religion. Or if you are Pakistani/Bangladeshi.... well all he will have to do is prepare some cash, pull some strings and you will be on his lap in no time.

SO TRUE

the north/south troupe with yandere is just too YUMMY, like, he'll go above and beyond to learn your culture, language, your favourite dishes and if he can't match the taste, he'll book a flight for you to enjoy it

EXACTLY, if appealing to your parents isn't good enough, he'll settle for whisking you away, not much they can do when registering a marriage is hella simple now a days, besides, who's going to object or question him when he has the entire police in his pockets

AND PLS, i feel that would be a veryyyy last measure, i mean, he'll do everything to gain the approval of the parents, hell, if they want their child to settle abroad, he'll pull some strings and get everything ready, if that's not good enough, he'll even send money everything, as much as they ask :P

[aboardthescheherazade]

Inspired by @professorcalculusstanaccount's timeline posts, it's Roberto Rastapopoulos through the years! No little Greek boy don't grow up to be a massive shithead--

Rasta is a very difficult character to understand in canon, because so much of his lore is left unknown to the viewer. However, there were little bits and pieces, some in Herge's tertiary studio notes; over time I've wrung some water from that stone, and put together this timeline in my head. I went with a more condensed range than ProfCal (i.e. pre-canon up to canon, rather than into post-canon), since Rob does technically "die"/disappear by the end of the (finished) comics.

Headcanons and details under the cut:

According to speculative official notes, he was born in the 1890s in Leros. It's a beautiful island but also one with a turbulent history, as when little Roberto was born, that part of Greece was under control by the Ottoman Empire. His father was a sponge diver, which was a very viable career at the time. (Decades later, the industry would be ruined when the area's sea sponges were over-harvested by bigger diving operations.) His mother is basically unknown...many official outlets say Rastapopoulos is part American, so I imagine his mother was of Greek-American heritage who either met his father abroad or in America.

There were two real-world figures who influenced my timeline: Aristote Onassis and Aleister Crowley. Onassis was one of Herge's later inspirations when writing Rastapopoulos, and for good reason; much like Rastapopoulos's own immoral dealings, Onassis indiscriminately sold warships during WWII and can easily be considered an arms dealer who profited off of human atrocities. On the other hand, Aleister Crowley was my own connection. All the pseudo-Egyptian mysticism in Cigars of the Pharaoh and the Kih-Oskh Brotherhood seems to be a reference to the very real trend in the early 20th Century where the upper crust of western society became fascinated with esoteric beliefs. (Seances and the Ouija Board were also created during this era.) Crowley rose in infamy during this time, too, as a spoiled debutante who spent his inheritance on journeys through the MENA region to perform rituals and "adapt" Eastern religions for his own belief system. With Rastapopoulos making up an entire pharaoh and emblem for his secret trafficking club, it reminded me very much of Crowley's own endeavours, and the commodification of MENA cultures and iconography during this era.

Child (1897) - Canonically, he has three brothers and two sisters, so l envisioned him as the middle child amidst all that. Little Roberto was spoiled when he was little, but when his youngest brother was born, it left Roberto feeling like the attention had been stolen from him.

15 (1906)- The other siblings hoped Roberto would be just as enthusiastic as they were about the family diving business, but alas, he'd always been more interested in reading prose and classical plays. His favourite play is Gounod's Faust. Some days, he daydreams about what a deal with the devil could get him, thinking he'd be able to outsmart the devil and win his riches for free. Roberto was at a rebellious point in his life, and sadly, he'd come to be ashamed of his background, deciding sponge diving was "peasant work" and that he'd rather tell others he was British or American. Eventually, it became easier for the whole family to just send him to a boarding school. Deep down, Roberto's parents hoped he might become an actor, a writer, or some sort of scholar...but the night before he left, Roberto secretly took down his whole family's banking information.

20s (1910s) - Roberto is now in his "Aleister Crowley's world tour" phase. He throws around mysteriously large quantities of money, often putting it into investments, and taking many journeys through Egypt and India. (I also like to imagine he met the Fakir and Colonel Fuad around this time; maybe Zloty too). Rastapopoulos is an insufferable, preening dandy at this time, trying to carve out his own place among the societal elite. His Greek identity is only flaunted as a way to make him seem more "exotic" to strangers. He tries not to think about the bank accounts he's leeching from.

30s (1920s) - Several of his investments actually flourished. His shares in Arab-Air and Flor Fina yield enough profit to let him buy out the companies, and his decadence only increases as he reaps even more profits. With extra money going around, Rastapopoulos finally decides to foray into the movie industry...as a movie producer. His passion for theatre never died, and if he can't become an actor himself, then why not produce the kinds of stories he wanted to be in? By the time the Great Depression hits, Rastapopoulos has amassed more than enough wealth to stay afloat...and the drug ring he's started with a few good friends sure helps, too. He's more concerned with holding onto every millimetre of his receding hairline.

40s (canon) - By all means, Rastapopoulos could have disbanded the cartel and retired comfortably. Maybe he could have invested more in his own movies, and focused more on Cosmos Pictures's internal operations. And yet, he didn't. Bigger numbers are better, so Rastapopoulos kept amassing his dirty money, thinking he was too big to fall. He got messy and left behind some viable clues, which some Belgian kid happened to stumble across...

50s (1940s-early 50s)- "Roberto Rastapopoulos" may be out on bail and facing decades in prison, but "Marquis Dante di Gorgonzola" is just some mysterious financier with an offshore bank account. Some of the other societal elites recognize him, but they find the alter ego funny and play along; "Oh, here comes "the marquis"...! He's due back in Hong Kong!" He can't make money through drug trafficking anymore, he can't show his face in Hollywood, and he certainly can't go back to Greece. Unfortunately, some of his associates introduce him to a different kind of trafficking, one even more immoral, but just as lucrative... It's the climax of the Rastapopoulos family tragedy: the son of hard-working commoners has ground his family's name into dust thanks to his pursuit of power and decadence; he has now resorted to deceiving those same sorts of commoners, dooming them to unknown fates just so he can buy a boat. Later, he begins resorting to harebrained schemes and petty crime just to maintain that lifestyle. His Greek identity has long been buried in favour of a vague, exotic cultural identity meant to explain away his quirks and twitchiness.

I've long been torn on whether or not Endaddine Akass is Rastapopoulos's final form. Herge's notes do consider him surviving Flight 714 to Sydney by waking up in the tropics with some degree of amnesia...perhaps this is near Jamaica, where he'll meet Ramo Nash under a new identity. It also feels the most theatrical - Rastapopoulos is playing yet another role, and he has a grand finale planned for Tintin's murder. Additionally, the mysticism Akass totes in Alph-Art is inspired by the alternative religion fads of the 1960s-70s; Akass is evocative of some of those many cult leaders, like Bhagwan Shree Rajneesh or Father Yod.

And yet, I almost find it more fitting for Rastapopoulos to survive Flight 714 to Sydney with full amnesia. He only knows himself as some middle-aged vagrant, and he decides he just has to pick himself up, and find some odd jobs to make a living. He gives himself a new name; his family history has been wiped clean. He struggles to make ends meet, much like the family he bankrupted, though he'll never know just how ironic his life has become. The rest of the world knows Rastapopoulos as a bombastic, flashy debutante who died a pitiful death during a police standoff. Tintin feels like he saw him one last time, but it feels like a bad dream he had during a flight layover. The man who always wanted to be the biggest and best died quietly in the sea, his true fate unknown, his body forever missing.

I think that's why I find Rastapopoulos so fascinating as a character! You can either make him into Tintin's greatest scourge who fights to the death to maintain his status, or you can rip all that away and doom him to a humble existence.

[lawyer2ca]

Sending Money Abroad Will Burn a Bigger Hole in your Pocket Soon - @lawyer2ca ✅ Whether you're investing in a home or stock market abroad, or sending money to your family or friends, money transfers, no matter how much or how little, are about to get more expensive as the blanket application of 20% TCS for all remittances, other than travel and medical will be applicable. ✅ In the case of educational expenses, like university fees, the tax collection at source (TCS) norms remain unchanged. ✅ The rate of TCS for international remittance under LRS for education purposes continues to remain the same at 5% on transfers above Rs 7 lakh and 0.5% if the source of funds is through a loan from a financial institution. ✅ The tax collection for overseas remittances will surely cause hindrance to travelers, especially students who would be going abroad for higher education. #Lawyer2CA #incometax #UnionBudget2023 #NirmalaSitharaman #finance #Global #india #Budget2023 #TCS (at Lawyer2CA) https://www.instagram.com/p/Co6sWUPSLOy/?igshid=NGJjMDIxMWI=

[poojasatyam]

How to pay tuition fees abroad from india without breaking the bank?

How to Pay Tuition Fees Abroad from India? Users can send money abroad in 3 simple steps on DCB Remit: 1. Register online on www.dcbremit.com website 2. Register your beneficiary 3. Book a transaction and transfer money to DCB Bank pool account 4. Sit back and relax, as the money will reach your beneficiary within 48hrs! * Digital Money Transfer Services roviders offer exclusive exchange rates with seamless digital journey. Quick and paperless money transfer services.

[afnoio]

Reliable Money Transfer from USA to Nepal"

Description: "Ensure a reliable money transfer from the USA to Nepal with our expert guide. We cover trusted providers and secure options to help you support family and friends abroad."

[tradersuraj1]

Easy Guide to International Money Transfers from India| Sending Funds Abroad Money transfer refers to the mechanism of proceeding a certain amount of money from one party to another through the financial system. An international money transfer is a process of sending money abroad. International money transfers arise on the account of education, medical treatment, maintenance of family member, shopping, gifts, donations, remittance, salary transfer etc.

For more details about transfer money abroad you can Visit: https://shorturl.at/cyGH5

[shineindiaexchange]

Discover Western Union Money Transfer Services in Chennai

In an increasingly globalized world, having access to reliable money transfer services is essential. For residents of Chennai, Western Union Money Transfer Services offers an efficient and trustworthy solution. Whether you’re sending money to family abroad or making local transactions, Western Union simplifies the process, ensuring your funds reach their destination quickly and securely.

Western Union Money Transfer in Perumbakkam

Located in the vibrant neighborhood of Perumbakkam, Western Union provides residents with convenient access to money transfer services. With numerous agents and outlets in the area, sending money is just a short trip away. The user-friendly interface and multiple payment options make it easy for anyone to navigate the service. Whether you need to send cash or transfer funds electronically, Western Union in Perumbakkam caters to all your needs.

The Best Money Exchange Service Company in Chennai

When it comes to money exchange services in Chennai, Western Union stands out as one of the best. The company’s commitment to providing competitive rates and low fees ensures that you get the most value for your money. This is especially important for those who frequently engage in international transactions or need to convert currency.

Best Money Exchange Services in Chennai

Western Union is not just limited to money transfers; they also excel in providing money exchange services. Their transparent exchange rates allow you to know exactly how much you’ll receive, eliminating hidden fees. Whether you're planning to travel, invest, or simply send funds, Western Union's comprehensive services make them a go-to choice in Chennai.

Additionally, their online platform and mobile app offer unparalleled convenience. You can initiate transfers, track transactions, and manage your finances from the comfort of your home. This accessibility is particularly beneficial for tech-savvy individuals who prefer digital solutions.

Conclusion

For anyone in Chennai, especially in areas like Perumbakkam, Western Union Money Transfer Services provides a reliable and efficient way to send and receive money. With a strong reputation as the best money exchange service company in Chennai, Western Union continues to meet the needs of its customers.

To learn more about Western Union and its services, visit Shine India Exchange. Experience the ease and security of money transfers with Western Union today!

[pkpconsult1]

Sending money abroad from India can be a common necessity for individuals and businesses alike, whether it's for supporting loved ones, making business payments, or managing investments. However, navigating the complexities of international remittance can be a daunting task.

[kathat123]

International Cargo Services in Pune: A Comprehensive Guide

In today’s globalized world, businesses and individuals rely heavily on international cargo services to transport goods across borders. Pune, one of India's major industrial and IT hubs, plays a pivotal role in international trade and cargo logistics. Whether it's shipping industrial equipment, e-commerce parcels, or personal belongings, international cargo services in Puneoffer seamless solutions to meet the growing demands of global trade. This blog provides insights into these services, their importance, and how to choose the best provider for your international shipping needs.

Importance of International Cargo Services

International cargo services facilitate the transport of goods from one country to another, enabling businesses to expand their markets and individuals to send and receive goods globally. With Pune being home to many multinational companies and industries, the need for reliable and efficient cargo services has increased manifold. Whether it's by air, sea, or land, these services ensure that goods reach their destination safely and within the required timeframe.

Types of International Cargo Services in Pune

International cargo services in Pune are diverse and cater to different needs depending on the type of cargo, its size, urgency, and destination. The most common types include:

Air Cargo Services Air cargo is the fastest and most efficient way to ship goods internationally. It’s ideal for high-value, perishable, or time-sensitive items. Pune's proximity to major airports, such as Pune International Airport and Mumbai's Chhatrapati Shivaji Maharaj International Airport, makes it a strategic location for air cargo services. These services are particularly beneficial for businesses that require quick delivery, such as pharmaceuticals, electronics, or luxury goods.

Sea Cargo Services Sea freight is the most cost-effective solution for transporting large volumes of goods over long distances. Pune is well-connected to major seaports like Jawaharlal Nehru Port (Nhava Sheva) in Mumbai, making sea cargo a popular choice for industries that need to move bulk shipments. This mode of transportation is typically used for heavy machinery, raw materials, and other non-perishable goods.

Door-to-Door Cargo Services Many international cargo companies offer door-to-door services, which means they handle the entire shipping process—from picking up the goods from the sender's location in Pune to delivering them to the recipient’s address abroad. This is a convenient option for both businesses and individuals, as it eliminates the hassle of coordinating multiple stages of shipping.

Customs Clearance Services One of the most crucial aspects of international cargo shipping is clearing goods through customs. Most reputed international cargo services in Pune offer assistance with customs documentation, ensuring that your shipment adheres to the legal and regulatory requirements of both the origin and destination countries. Proper customs clearance ensures that your cargo is not delayed or penalized at the border.

Key Benefits of Using International Cargo Services in Pune

Global Reach Pune-based cargo services have established networks across various countries, enabling smooth transportation to almost any part of the world. These services ensure that you can reach new markets, clients, and partners efficiently, regardless of location.

Time and Cost Efficiency Reputed international cargo companies in Pune optimize their shipping routes, documentation processes, and logistics chains, helping businesses and individuals save time and money. By choosing the right mode of transportation (air or sea), you can ensure timely delivery within your budget.

End-to-End Logistics Support Many international cargo providers offer comprehensive solutions, from packing and loading to transportation, customs clearance, and final delivery. With a team of experts handling your shipment, you can rest assured that your goods are in safe hands.

Advanced Tracking Systems Most international cargo companies in Pune provide advanced tracking systems that allow you to monitor your shipment's status in real-time. This level of transparency ensures peace of mind and helps you plan for your shipment’s arrival.

Choosing the Best International Cargo Service in Pune

With so many options available, selecting the best international cargo service in Pune can be challenging. Here are a few factors to consider when making your decision:

Experience and Reputation Always opt for a company with years of experience and a solid reputation in international cargo logistics. You can check customer reviews, industry ratings, and the company's history of handling international shipments.

Network and Coverage Ensure the cargo service provider has a vast network in the destination country, along with reliable partners to handle your shipment. A strong international presence guarantees timely delivery and fewer complications at the destination.

Customs Expertise Navigating international customs regulations can be complex. Choose a cargo service provider with a robust understanding of customs clearance processes, documentation, and compliance requirements.

Range of Services Opt for a company that offers multiple cargo solutions, such as air, sea, and door-to-door services, to cater to your specific needs. A company with a wide range of services can handle different types of shipments efficiently.

Insurance and Safety Cargo insurance is essential when shipping valuable goods. Check if the cargo company provides insurance options that cover your goods from potential damage or loss during transit. Also, inquire about the safety measures the company takes to protect your cargo.

Pricing While price should not be the sole deciding factor, it’s crucial to choose a cargo service that offers transparent pricing with no hidden costs. Compare rates from multiple service providers and select one that fits your budget while maintaining quality service.

Conclusion

With its growing industrial base and proximity to major ports and airports, Pune is well-positioned to become a key player in international trade. International cargo services in Pune play a vital role in facilitating this global exchange by offering efficient, reliable, and cost-effective logistics solutions. Whether you are a business looking to expand globally or an individual sending goods abroad, choosing the right international cargo service provider in Pune can make all the difference. By considering factors such as experience, network, customs expertise, and pricing, you can ensure a smooth shipping experience that meets your needs.

[kanakkupillai-trademark]

Digital Signature Certificates Demystified: Your Essential Registration Checklist

Submit your application for IEC Code Registration conveniently through our online platform

Introduction:

IEC registration is an ever-expanding global trade landscape; businesses constantly seek opportunities to expand their markets and reach new customers worldwide. One crucial aspect of international trade is obtaining an Importer Exporter Code (IEC). This code is a unique identifier issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce, Government of India, which facilitates cross-border trade transactions. This article will delve into what IEC registration entails, its significance, and the steps involved in obtaining it.

Understanding IEC Registration:

The Importer Exporter Code, commonly known as IEC, is a 10-digit alphanumeric code required by businesses that import or export goods and services from India. An IEC is mandatory for international trade transactions, whether a company is a manufacturer, trader, or service provider. It is a primary document for clearing customs and fulfilling various statutory requirements.

Significance of IEC Registration:

IEC registration offers numerous benefits to businesses involved in international trade:

1. Legal Requirement: Under India's Foreign Trade Policy, IEC registration is a legal requirement for all entities importing or exporting goods and services.

2. Expansion of Business: It enables businesses to explore and enter new international markets, expanding their customer base and revenue streams.

3. Avail Government Benefits: IEC registration is necessary to take advantage of various government benefits, such as subsidies, incentives, and schemes for exporters.

4. Customs Clearance: It is a crucial document for customs clearance during the import or export of goods.

5. Bank Transactions: IEC is required for businesses to send or receive money abroad, making it essential for international financial transactions.

Steps to Obtain IEC Registration:

The process of obtaining IEC registration involves the following steps:

1. Online Application: Businesses can apply for IEC registration through the DGFT's online portal by completing the necessary application form and submitting the required documents.

2. Document Submission: The applicant must submit supporting documents such as a PAN card, Aadhar card, address proof, bank certificate, and passport-sized photographs along with the application.

3. Fee Payment: A nominal fee is payable for processing the IEC application. The payment can be made online through the DGFT portal.

4. Verification and Approval: Once the application and documents are submitted, the DGFT verifies the details provided. Upon successful verification, the IEC is issued to the applicant.

5. IEC Certificate: After approval, the applicant receives the IEC certificate electronically, containing the unique 10-digit alphanumeric code and other relevant details.

Conclusion:

IEC registration is a fundamental requirement for businesses looking to engage in international trade activities. It facilitates smooth customs clearance and opens doors to a world of opportunities for business expansion and growth. By understanding the significance and following the necessary steps to obtain IEC registration, businesses can quickly and efficiently navigate the complexities of global trade.

[indiatimes-news]

Modus operandi unraveled: How over Rs 600 crore were siphoned out of country

The outward remittances were done illegally in the garb of third party payments against import of garments from Bangladesh.

Delhi Police's Special Cell registered an FIR in October 2021 regarding a syndicate that channeled money obtained through various criminal activities out of the country. This included Proceeds of Crime ( POC) obtained through illegal Chinese loan apps, illegal online gamings and also illegal bettings.

The wide network of this syndicate can be gauged from the fact that the case was first taken over by Delhi Police in October 2021. It was later transferred to the Enforcement Directorate ( ED) that is probing the matter and recently made an arrest on July 13.

From the documents that have been accessed by Republic Digital, it is mentioned categorically how accused persons, the fraudulent companies created by them on the pretext of forged documents were involved in opening of bank accounts both within and outside country and have taken out funds to the tune of Rs 338 crore.

To begin with, fake identities like Aadhaar, PAN cards and Voter ID cards were used for creating shell firms and opening multiple bank accounts.

In continuation to this, shell firms were also opened in Hong Kong, China, UAE, Singapore and Malaysia. The money that was deposited in Indian bank accounts was then successfully routed through RTGS/ NEFT.

The probe in this case by the agencies led them to get hold of Ashish Kumar Verma. It was found that Ashish along with the accomplices were able to create 18 shell firms and multiple accounts not only in private but also public banks.

Investigations have also revealed that Ashish is one among many in this huge syndicate that was successfully taking out hundreds of crores from the country.

As per law enforcement officials the other major characters involved in this crime of money laundering included Praveen Kumar based in Dubai who was involved in creating fake firms abroad, and Vipin Batra who used to be in touch with Ashish and gave him directions on how the modus operandi had to be implemented. Vipin Batra was recently arrested by the ED on July 13. He is being interrogated.

The mastermind of this syndicate is said to be Pawan Thakur, a Dubai-based bookie and an international Hawala operator. As per law enforcement officials, he is the mastermind in incorporating entities within India as well in foreign countries for remitting funds from India and receiving such funds in foreign bank accounts.

Thakur used to provide forged documents to Vipin Batra who in turn used to send these documents to Ashish Kumar Verma for executing outward remittances. Thakur used to incorporate entities in foreign countries on the backing of passports of several Indian individuals.

The modus operandi proved to be so successful that the syndicate acquired foreign exchange to the tune of Rs 271 crore and successfully sent this amount to the foreign bank account of shell companies abroad in the garb of purported imports of services giving false declarations in turn to banks.

In this, 90 percent of the amount was sent to Dubai while 10 percent was sent to Singapore.

It did not just end here. During the investigations, it was further found that Pawan Thakur was working on a similar modus operandi and in connivance with people that have been identified as Rohit Sharma, Jatin Chopra, Anmol Srivastava, Deepak Kaushal and others for illegal outward remittances.

The outward remittances were done illegally in the garb of third party payments against import of garments from Bangladesh.

From this, funds to the tune of Rs 338 crore were channeled out to Hong Kong and Singapore. Some of the fake firms that were created are Perfect Solutions, Omega Technologies, RP investment and consultancy, Flappose Trade PVT ltd, Uniwide innovations.

Fake directors of these firms were created. Bank accounts of office boys were created by giving them Rs 15,000. On their names, SIM cards used to be bought from where banking transactions used to be done.

With some arrests made in this case so far, investigations are still on to get hold of major masterminds in this Hawala racket that has resulted in more than Rs 608 crore being siphoned off the country.