The Enforcement Directorate, ED today conducted searches at 10 premises, both offices and residential, of Naresh Chand Jain located at Pitampura, Vikas Puri, Rohini and Wazirpur in Delhi.<br/><br/>The searches were conducted on the basis of information received by the Directorate that Naresh Chand Jain and his brother Bimal Kumar Jain are involved in large scale hawala and illegal activities.<br/><br/>Naresh Chand Jain has been indulging in opening of shell companies and generation of fake invoices which he uses for making bogus import and exports.<br/><br/>Indian currency to the tune of 27 lakh rupees and foreign currency of various countries including Dubai, Hongkong, U.S and Philippines were seized. Besides various incriminating documents including details of various shell companies and fake invoices of various such companies were recovered from his offices. <br/><br/>Seizures made by the ED also include several pan cards, voter ID cards, digital payment devices of various foreign banks, various SIM cards of Nepal and Dubai.<br/><br/>It has been found that Naresh Chand Jain, along with his brother, has been doing hawala transfers to Dubai, Singapore, Hongkong, China, Nepal, USA, Europe and other countries.