Hyderabad: Investigation of the Enforcement Directorate (ED) has revealed that around RS 16 Crore is paid to human hair traders by the Chinese online betting application company as part of a Hawala transaction.
Two Hyderabad-based hair export companies are said to have received RS 3.4 Crore from Chinese companies.
The company received money for domestic sales to traders in northeast through the Illegal China application owned by Linkyun Private Technology Limited and DocyPay Technology Technology Private Limited Company Paytm.
The two companies were examined by police Hyderabad and Ed.
“…
it was found that many domestic traders combined and sold raw hair to foreign traders based in Hyderabad, Guwahati, and Kolkata …
It was smuggled out of India through the road through points in Moreh (Mizoram), Zokhawtar (Mizoram), Zokhawtar (Mizoram)), Aizwal (Mizoram) to Mandalay (Myanmar).
In the end, he found his way to China where they were labeled as domestic Chinese hair and processed, “said Ed.
Ed said that, as a result, Chinese traders were able to avoid 28% import duties and also received 8% export incentives by claiming Indian hair smuggled as China.
Indian exporters are also thought to be under the exported hair to avoid import duties in the recipient country.
“Some Myanmar citizens are permanently placed in Hyderabad, buy human hair locally and then export it to Myanmar using the IEC code from Indians / entities at valuable prices.
The number of differences is resolved both locally or through the hawala channel,” said Ed .
The investigator now analyzes purchases, export prices and quality.
Prima-facie, alleged hair exported to Myanmar, Bangladesh, Vietnam, Austria etc.
are under the invoice.
Further evidence revealed that some entities have received payment on hair sales in their employee bank accounts that withdraw cash and hand them to the owner.
Most exporters are found not maintaining appropriate account books and avoiding income tax liabilities.
Hawala Transactions RS 16CR Through China Betting Application: Ed
