Srinagar: After allegedly failing to realize the outstanding export bills to the tune of crores of rupees, Enforcement Directorate on Thursday conducted raids on Al-Khudam Tour and Travels and Feroz Son’s Carpet Exports here in Srinagar city of Jammu and Kashmir.
Sources in Enforcement Directorate informed news agency CNS that raids were conducted at three locations simultaneously.
Sources said that three separate teams of Enforcement Directorate conducted raids at the house and office complex at 90 feet road Soura in the outskirts of Srinagar city. A team also conducted searches at Al-Khudam office at Sangarmal Shopping Complex here in the heart of Srinagar city.
An ED official wishing anonymity said that Directorate conducted raids and search operations in the offices and houses of Al-Khudam Tour and Travels and Feroz Son’s Carpet Exports under Foreign Exchange Management Act (FEMA) as the trading company has failed to realize the outstanding export bills to the tune of crores of rupees.
“Don’t relate these raids to funding row. This is a different case wherein trading company has possibly failed to realize outstanding export bills,” he said.
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