Foreign Currency

ED seizes Rs 50 lakh worth US dollars from US returned man at Vadodara airport

New Delhi: The Enforcement Directorate on Saturday said it has seized USD 60,000 worth about Rs 50 lakh from a man at the Vadodara airport after he landed there from the US via Delhi.

The central agency also carried out searches at the residence of the man, who has not been identified, in Vadodara, Gujarat, on Saturday.

The Enforcement Directorate (ED) in a statement said that the man did not declare the foreign currency to the Customs authorities at the Indira Gandhi International Airport in Delhi after he landed there on Friday from the US.

He was intercepted when he arrived in Vadodara through a connecting flight from Delhi and USD 60,000 (worth about Rs 50 lakh) was recovered from his bag.

The currency was seized on the reasonable belief that the said foreign currency was brought into India in contravention of provisions of the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015, the ED said.

(Published 23 March 2024, 12:47 IST)

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