By Bizodisha Bureau, Bhubaneswar, November 11, 2016 : The Enforcement Directorate (ED) on Friday conducted searches at about seven foreign exchange shops here as part of the crackdown on black money across the country.

Sources said the searches were undertaken on the suspicion the foreign currency exchange service providers were providing foreign currencies in exchange of banned notes.

In a related development, the Income Tax personnel raided at reputed jewellery shops including Lalchand Jewellers in Bhubaneswar and Khimji Jewellers in Rourkela. Searches were conducted at some jewellery shops in Cuttack as well.

The ED conducted searches in seven foreign exchange establishments located in Sahid Nagar, Kharvela Nagar and Forest Park areas of the city, reports said.

Sources said the ED acting on a tip-off that these establishments were exchanging demonetised currencies of Rs 500 and Rs 1000 making backdate entries in their books of account.

Reports said the ED conducted searches at UL Exchange Financial Service, VKC Credit & Forex Service, Friends Travels, Thomas Cook, Mannapuram Finance, etc.