Kochi: The Enforcement Directorate (ED) is trying to find out the benami transactions of Bineesh Kodiyeri. The probe team assume that he has companies in benamis and that the Thiruvananthapuram-headqurtered UAFX Solutions Private Limited is one among them.
UAFX Solutions is a company that made a contract with the UAE consulate to make visa stamping easier. Gold smuggling case accused Swapna Suresh had made it clear that she had received commission for selecting this company.
However, Bineesh denied links with the company during interrogation. He admitted that he is a friend of the company owner Abdul Latheef. The ED had found out that they have partnership in a hotel business in Thiruvananthapuram.
Bineesh also told the probe team that he uses Abdul Latheef's car when he is in Thiruvananthapuram only because of friendship. The ED will interrogate into their financial transactions also.
The probe team found that no important transactions were made through the companies started by Bineesh in Bengaluru which was shut down later. Though he started a foreign exchange company, it has not obtained registration of the Reserve Bank.
The company also cannot function without the permission of the RBI. Such companies have to keep about 8 types of documents and submit report to the RBI once in 3 months. Bineesh's company is not following these rules.
