Raids Reveal 6 Crores, Mostly In New Notes in Bangaluru
BANGALURU : Six crores in cash – of which nearly five crores were made up of the newly-introduced notes by the government – have been found after raids on two individuals and several locations in Bengaluru. The men are reported to be senior bureaucrats. Karnataka is governed by the Congress.
This is the biggest discovery of cash in new currency since the government launched its demonetisation reform on November 8. At least one bank official’s involvement is suspected, said sources.
“An investigation is on to find out how the pair got so many new notes,” said a senior tax official, asking not to be named. Note counting machines had to be used to evaluate the amount recovered.
More than five kilos of gold and six kilos of jewellery were found, along with top-end sports cars like a Lamborghini were also found in the raids, said sources.
Since Prime Minister Narendra Modi’s shock ban of old 500 and 1,000-rupee notes three weeks ago, a cash shortage has stumped the country. The new 500 and 2,000-rupee notes are in short supply, resulting in endless lines at banks. The demonetisation drive is aimed at unearthing black money.
Sources said that recent raids on other government officers had led to tip-offs about the two senior government engineers who were targeted today. The pair’s fleet of fancy motorbikes and cars had also flagged suspicion.
