NEW DELHI, 15 Dec: The Income Tax (IT) Department conducted a raid on two branches of Axis Bank on Thursday in Connaught Place and Noida-51.
The I-T department is investigating at Axis Chandani Chowk.
Amid the raids conducted by I-T Department, Axis Bank said: “We applied all our analytical capability to identify accounts that might have exhibited suspicious activity since demonetization.”
“The Bank has also taken the unprecedented step of temporarily suspending some of these accounts under question,” narrated Axis Bank.
Earlier in the day, Income Tax Department officials raided an Axis bank BSE 1.14 % branch in Noida. This is second such raid on Axis bank in a month.
Reportedly, 20 fake accounts of as many companies with deposits of Rs 60 crores have been found in the raid.
Companies were using the accounts to convert black money with the help of bank officials. The branch is located in Sector-51, Noida.
Earlier in the month, the income tax department has unearthed 44 fake accounts during a raid at an axis bank branch in Central Delhi’s Chandni Chowk area.
Earlier in November, Income Tax department had raided the Kashmere Gate branch of Axis Bank in Delhi. Over 40 fake accounts with over Rs 100 crore were allegedly seized during the raid.
The Enforcement Directorate officials had also arrested two Axis Bank officials in New Delhi in connection with the illegal conversion of black money. Axis bank also suspended 19 officers for their involvement in illegal activities post demonetisation.
In Guwahati, Assam, Rs 5.58 lakhs in new currency seized from father-son duo by Police on Thursday. Both are arrested in the matter. In another seizure from West Bengal, Siliguri Metropolitan Police seized Rs 2.54 lakhs in Rs 2000 notes and arrested five persons yesterday.
Delhi Police Crime branch has registered four FIRs in connection with the seizures of currency in last few days.