Rs 111.3 crore and counting: Here is a conservative list of new cash seizures reported post-demonetisation

Here's the list of such raids carried out by IT department officials in which new and old currency notes were recovered.

By: Express Web Desk | New Delhi | Updated: December 11, 2016 3:12 pm
demonetisation, new notes seized, new notes confiscated, income tax department, IT raids, illegal exchange of notes, bank managers arrested, banks illegal exchange, black money new currency The seized Rs 2,000 notes. (Express Photo)

More than a month after Prime Minister Narendra Modi announced the demonetisation move, long queues outside banks and ATMs still remain a usual sight as most banks complain of shortage of new currency. On the other hand, regular income tax seizures of cash and gold, sometimes in new currency, have been reported from different parts of the country, raising questions regarding the government decision.

These incidents of seizure have also given rise to suspicion over the role of bank officials as arrests have also been made by the Enforcement Directorate and other agencies. On December 5, the ED officials arrested two Axis Bank managers in New Delhi as part of its investigation in a racket involved in illegal conversion of currency notes.

Here is a list of major incidents in last one month:

Rs 3.5 crore: Two individuals arrested in New Delhi with Rs 3.5 crore in the form of new currency notes within days of the announcement.

Rs 4.7 crore: In raids conducted on November 30 and December 1, IT officials from Karnataka and Goa regions seized Rs 6 crore cash out of which Rs 4.7 crore was found in form of newly introduced currency. Four persons were arrested in the raid.

Rs 33 lakh: On December 6, former BJP leader Mahesh Sharma from West Bengal was arrested by STF. Rs 33 Lakh in form of Rs 2,000 notes was confiscated from him.

Rs 1.5 crore: Another such raid in Goa on December 7 by the CBI and local police led to arrest of eight persons and confiscation of Rs 1.5 crore worth of new currency.

Rs 70 crore: On December 8, IT officials busted a major exchange racket operating from Chennai and seized Rs 90 crore in cash including Rs 70 crore in new currency.

Rs 1.57 crore: In Surat, Gujarat 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.

Rs 24 crore: 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.

Rs 7.2 lakh: On December 10,  Income Tax department seized Rs 7,20,000 in new Rs 2,000 currency notes from Bhilwara, Rajasthan.

Rs 5.7 crore: The Income Tax (I-T) department on Saturday seized an unaccounted amount of 5.7 crore in the currency of the new Rs 2000 notes in Chitradurga and Hubballi in Karnataka. I-T officials also seized 90 lakh in old notes and 32 kg in gold bullion. The officials recovered the cash and gold from a ‘secret bathroom chamber’ of a hawala dealer.

Rs 8 crore: Delhi Police on Saturday raided the office of a law firm in southeast Delhi’s Greater Kailash-I area and recovered huge amount of cash in old and new banknotes. The raid was carried out by the Crime Branch at the office of T&T Law Firm, said a senior police officer. “The recovered amount is expected to be more than Rs 8 crore. Out of which, more than Rs 2 crore will be in new currency notes. The I-T department has been informed and the counting of recovered cash is underway,” said the officer.

Know of more such seizures? Tell us in comments section below. 

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