ED Raids Mumbai-Based Firm Mega Millennium Over Alleged Shell Company Network, Suspicious Dubai-Singapore Funds

Mumbai: Enforcement Directorate (ED) searches are underway on Friday at the offices of Mumbai-based firm Mega Millennium Private Limited, the residence of its Director in Mumbai and Delhi, and a farmhouse in Karjat, Maharashtra. Approximately half a dozen premises are being covered, the agency said.

The company mainly works in wholesale trading, wholesale electronics and import-export activities.

The company and its directors, including Harish Dedhiya and his wife Dhara Dedhiya, have received large sums of foreign exchange from suspicious companies based in Dubai and Singapore, according to the Enforcement Directorate.

The agency also said it found evidence indicating that Harish Dedhiya incorporated companies by appointing his own employees/dummies as directors. Within a year of incorporation, these companies allegedly received hundreds of crores of rupees, which were layered through multiple shell entities.

Foreign currency, Indian currency, and valuables worth several crores of rupees have been found so far.

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