The Enforcement Directorate (ED) on Wednesday conducted a raid and seized Rs 2.19 crore from Chandigarh as part of its operation to check hawala trade in the wake of demonetisation.
Officials said the sleuths of the agency swooped down on the premises of a cloth trader and few other locations in the city, based on a tip-off about huge illegal currency stashing.
While the ED said Rs 18 lakh in new notes was recovered, Punjab Police said Rs 69.35 lakh in new currency was recovered during the raid.
The action has been taken under the provisions of the Foreign Exchange Management Act (FEMA) and the searches are still on, they said.
Chandigarh DSP Ram Gopal said a team led by ED's Deputy Director Gurnam Singh conducted a raid and seized Rs 1.50 crore in demonetised currency and Rs 69.35 lakh in new currency.
The raid was carried out at the house of one Inderpal Mahajan. He has been arrested and a case has been registered against him, the DSP said.
He said the ED team has seized notes for further verification.
The ED has been carrying out searches and enquiry at various places in the wake of demonetisation.
(With inputs from PTI)
