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10 major raids I-T Department has conducted since demonetisation

10 major raids I-T Department has conducted since demonetisation

Post demonetisation, headlines about income tax and police raids across the country have caught everybody's attention with the authorities seizing large stashes of new Rs 2,000 notes.

Post demonetisation, headlines about income tax and police raids across the country have caught everybody's attention with the authorities seizing large stashes of new Rs 2,000 notes.

Given that the new banknote is being carefully rationed, the raids have raised some serious questions about how these people have managed to get hold of so much of the new currency.

Within days of the announcement of the note ban, two people were arrested with Rs 3.5 crore in New Delhi. Also, Axis Bank managers were arrested in the capital for alleged illegal conversion of currency notes.  

But, that was just the beginning. Here's a list of the major raids Income Tax Department has carried out since then:

Over 13 crores seized in New Delhi: Income Tax officials and Delhi Police on December 10 raided the office of a law firm T&T in southern part of the national capital and found over Rs. 13 crore in cash, of which Rs. 2.5 crore was in new currency notes.

The Crime branch team found 7 crores in old Rs 1,000 rupee notes, 3 crores in Rs. 100 denominations, and the rest a mix of old and new notes.
When the police team raided the office, most of the rooms were locked and only a caretaker was present. The founder of the firm has not been arrested yet.

166 crore currency seized from Chennai: On December 10, the Income Tax department seized 24 crore rupees cash in new notes in Chennai. This comes on the back of the biggest haul of cash and gold post demonetisation in the city, in which over Rs 142 crore unaccounted assets were recovered on Friday. The total value of the seizure in Chennai has now risen to 166 crore rupees.



Challakere, Karnataka: In another development, on December 10, the Income Tax department zeroed in on 5.7 crore rupees cash in new notes. Besides 32 kgs of Bullion (gold biscuits) and old notes worth 90 lakh rupees was stashed inside bathroom tiles of a Hawala operator in Challakere town in Karnataka. The department officials laid their hands on the stash on the basis of searches that began against casino and bullion traders in Hubballi and Chitradurga districts on December 9.

Hyderabad: In Hyderabad, CBI busted a note exchange racket by recovering 65 lakh rupees of new 2000 denomination notes from the Senior Superintendent of Post Offices.

Poll bound states of UP and Punjab
: In Punjab, fake currency with face value of 4.15 lakh rupees was seized in Sangrur. In Uttar Pradesh, Enforcement Directorate reportedly found huge amount of cash in a raid at the ruling Samajwadi Party MLC Santosh Yadav's house.

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Bhilwara, Rajasthan: In yet another raid on December 10, Income Tax Department seized Rs 7,20,000 in new Rs 2,000 currency notes from Bhilwara, Rajasthan.

Vellore, Tamil Nadu: On December 9, a seizure took place in Vellore where Rs 24 crore in cash was recovered. Rs 2,000 currency notes, kept in 12 boxes, were seized from a car.

ALSO READ: Govt to amend RBI Act to annul old Rs 500, 1,000 notes


Surat, Gujarat: In Surat, on December 9, Income Tax officials raided different locations in the city and found Rs 1.57 crore in the form of new currency notes issued by the government after demonetisation.

Goa: The CBI and local police arrested eight persons and confiscated Rs 1.5 crore worth of new currency in Goa on December 7.

Raid at former BJP leader's house in West Bengal: On December 6, former BJP leader Mahesh Sharma from West Bengal was arrested by the special task force. Rs 33 Lakh in form of Rs 2,000 notes was confiscated from him.