Home / Mumbai / Mumbai News / Article /
Mumbai: Customs bust unauthorised forex racket worth over Rs 7 crore
Updated On: 28 November, 2025 09:26 AM IST | Mumbai | Anish Patil
Customs seizes Rs 7.63 crore in 26 foreign currencies from unlicensed South Mumbai operator
Listen to this article :
The unaccounted foreign currency seized from the Null Bazar office of a local forex firm. Pic/By Special Arrangement
Quick Read
Customs (Preventive) officials have uncovered what appears to be one of the biggest illegal foreign-exchange operations in South Mumbai in recent months, after seizing Rs 7.63 crore in unaccounted foreign currency from the Null Bazar office of a local forex firm. The firm’s owner, Hasan Mohammed Koradia, has been arrested and is being questioned to uncover the source and scale of the racket, senior Customs officials told mid-day.
According to investigators, the R&I Wing (HQIU), Mumbai Zone III, carried out the raid on November 25 following specific intelligence that the premises were being used as a cash-heavy, unregistered forex hub. During a prolonged search, officers allegedly found stacks of foreign currency hidden in drawers, cupboards and office bags, along with high-speed counting machines and packing material typically used in illegal cash operations.
Trending Stories
Latest Photos
Latest Videos
Latest Web Stories
ADVERTISEMENT
Mid-Day Fast
ADVERTISEMENT
ADVERTISEMENT