Vellore (Tamil Nadu) [India], January 4 (HBTV): The Enforcement Directorate (ED) on Friday conducted an 11-hour raid at the residence of DMK General Secretary and Tamil Nadu Water Resources Minister Duraimurugan in Vellore district. The raid, which began on Friday afternoon, concluded at 1:35 AM.

The raid was part of the ED’s ongoing investigation into an alleged money laundering case connected to violations of Reserve Bank of India (RBI) guidelines and cheating by bank officials during the demonetization period.

The ED conducted raids at four locations in Vellore district, linked to Duraimurugan and other accused individuals.

The investigation focuses on an alleged violation of RBI guidelines and cheating by bank officials who reportedly facilitated the illegal exchange of Rs 200 notes for Rs 500 and Rs 1,000 notes during demonetization. This malpractice reportedly allowed individuals to bypass government restrictions aimed at curbing black money and counterfeit currency.

The ED’s raids, including those at locations connected to Duraimurugan, are part of efforts to uncover the extent of these irregularities and identify those involved.

The Centre had, on November 8, 2016, cancelled the legal tender status of Rs 1,000 and Rs 500 currency notes with several objectives: flushing out black money, eliminating Fake Indian Currency Notes (FICN), combating financing of terrorism and left-wing extremism, formalizing the economy, expanding the tax base and employment, and promoting digital payments to reduce the cash economy in India.

(ANI)