Giving details about the Hong Kong-based firms' role in

the crime, the ED said it was found that "an amount of Rs 1,478.85 crore was yet to be received by Ms Rajeshwar Exports against export made from the company. Out of this, only one company, International Rising Limited, has received USD 14.79 crore (approx Rs 990 crore) for supply of 220 consignments of diamonds/gold, which appears to have been overvalued for more than 10 times.

The HK firm was controlled by Dahal, who the agency said, admitted during questioning that she became the Director of the frim "on instructions" from Jain.

"The company in Hong Kong was established for the sole purpose of money laundering and had no other activity," the agency added.

The case is one of the prominent ones being probed in the western metropolis for alleged black money routing and generation, post the notes ban and is also being investigated by the Mumbai Police and the Income Tax department.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)