NEW DELHI: The Enforcement Directorate has tracked suspicious cash deposits of about Rs 100-150 crore in the Karol Bagh branch of HDFC Bank after officials surveyed half-a-dozen accounts in the bank based on a tipoff from the Financial Intelligence Unit ( FIU ) last week. Some of these accounts saw cash deposits of about Rs 30 crore each between November 8 and 25, which were transferred out to beneficiaries who are suspected to be 'entry operators'.The term 'entry operator' is used by investigating agencies to refer to individuals and hawala dealers who create shell companies, open bank accounts in fictitious addresses, deposit huge unaccounted income in cash in these accounts and layer it with circular transactions in multiple accounts before the money is finally transferred to beneficiaries.When asked about the survey, an HDFC Bank spokesman said, "We last week received from them (ED) what seems a routine enquiry pertaining to a certain transaction that we had reported to the FIU as per law. We are in the process of furnishing the information sought by the ED." A source said ED officials started survey operations on the bank branch on Friday, and by Monday they found trails of more than Rs 100 crore. O fficials are investigating alleged connivance of bank managers in allowing such huge deposits which were then transferred to beneficiaries through the banking channel.At least Rs 100 crore went out of the bank and into the accounts of beneficiaries in two weeks after demonetisation was announced on November 8.The ED has tracked beneficiaries from at least three accounts while investigation is in progress to track others. The front in these cases are suspected to be jewellers and bullion traders while the actual beneficiaries could be others, officials believe. Sources said the initial probe had revealed the role of 'entry operators' in siphoning off black money.In a similar case of cash deposits and outflows from the Kashmere Gate branch of Axis Bank , the ED had arrested two bank officials and a chartered accountant. In the Axis Bank matter, the ED registered a case under the Prevention of Money Laundering Act and arrested the accused as the unaccounted money was deposited in the bank and transferred out to shell companies with fictitious addresses. The beneficiaries in the case were found to be casual labourers who were unaware of the transactions.In another case in Bengaluru, the ED arrested seven persons on Monday and seized Rs 93 lakh in new currency notes of Rs 2,000.