IT sleuths: ED freezes Rs 120 cr in Mumbai; more all across India

Dec 17: Seizing unaccounted money all across India seems like a daily business now, the money in old currency notes and even in new currency notes is being recovered by the authorities. It is a matter of great concern that common people are struggling to get mere 2,000 rupees and on the other hand, crores and lakhs of rupees are being found in new currency notes.

In Mumbai, The Enforcement Directorate on Saturday conducted a raid on six Mumbai-based companies and recovered Rs 69 crore in new currency notes. The money was being moved into the accounts of four bullion traders. The ED froze the traders’ bank accounts, which have an estimated Rs 120 crore in store.


Meanwhile in Chandigarh at Sector 22, the ED today seized Rs. 30 lakh, out of which 18 lakh were in new notes, attached with 2.5 kg gold. It has come out through ED’s sources that, Rs 18 lakh were in the new currency note of 2000 and rest was in the notes of Rs 100 and Rs 50. The owners of the tailoring shop had allegedly bought 2.5 kg gold at a rate of Rs 44,000 per 10 gram after demonetization.

In Andhra Pradesh’s Krishna district, Unaccounted cash worth Rs 4.4 lakh in new currency notes of Rs 2,000 was seized today.  The seizure was made in the early hours at Gosaveedu village of Gampalagudem Mandal from four persons after they were unable to produce appropriate documents and explain the source of cash.

 4.4 lakhs in Andhra Pradesh

CBI has booked an Assistant Commercial Manager of Railways – K L Bhoyar – posted at Mumbai’s Chatrapati Shivaji Terminus for allegedly exchanging demonetised currency having the face value of Rs 8.22 lakh with newly introduced Rs 2,000 notes.

old currency notes

In Kerala, The Income Tax (I-T) Department seizes unaccounted cash worth Rs 70 lakh from the trust office of Karuna Medical College in Palakkad.

Read More: Gold mine of unaccounted money being seized all across India

 Wefornews Bureau
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