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States » SouthPosted at: Nov 8 2018 6:03PM


IT confirms that M/s Ambidant Marketing Pvt ltd is into Forex Trading: ED

Bengaluru, Nov 8 (UNI) Enforcement Directorate, Bangalore Zonal Office, on the basis of information rceived from the Income Tax Department, conducted searches at several premises of M/s Ambidant Marketing Pvt Ltd being run by Syed Fareed Ahmed and Syed Afaq Ahmed.
Mr Navdeep Singh, Assistant Enforcement Officer, in a press release forwarded here on Thursday, said that Enforcement Directorate Bangalore Zonal Office conducted searches at several premises of M/s Ambidant Marketing Pvt Ltd being run by one Sh Syed Fareed Ahmed and Sh Syed Afaq Ahmed on 04.01.18 & 05.01.18. Other than M/s Ambidant Marketing Pvt Ltd, the above said father son duo were found to have floated several other firms in India i.e. M/s Ambidant Constructions Ltd., M/s Ambidant Marketing and Trading Company, M/s Profit Theme, M/s Ammar Enterprises, M/s Ambidant Global Solutions, M/s Ambisheltar, M/s Perinet Technologies, M/s Ambigold, M/s Webworld & also having business establishments abroad i.e. M/s Ambidant Marketing Financial Services LLC (at Nawras Tower, Al Quasis, Near BustanCenter, Dubai) started in September 2017. During the search cash to the tune of Rs 1.97 crore was seized by ED from the residential premises of Sh Syed Fareed Ahmed for violations under FEMA.
The above clarification comes in the wake of Central Crime Branch (CCB) three teams conducting raids on residence and offices of former Minister and Mining baron Gali Janardhana Reddy at Ballari, in Bengaluru and the teams went in search of him even to Hyderabad, Mr Reddy is absconding and the special teams are still looking out for his hiding place and arrest him in connection with money laundering case.
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