Karnataka: Rs 5.7 crores in new notes seized from bathroom

The cash and valuables were hidden in a secret compartment in the wall of a bathroom of his house in Challakere, I-T officials said.

By: Express News Service | Bengaluru | Published:December 11, 2016 3:35 am
Black money, Demoentisation, latest news, India news, CBI news, latest news, India Black money news, Demoentisation effect, Latest news, national news According to the I-T department, the hawala operator, who has not been named yet, was involved in converting old notes and was accumulating bullion using old currency’. (Source: ANI)

The I-T department on Friday arrested a hawala operator from Challakere town of Chitradurga district and seized Rs 5.7 crore in Rs 2,000 banknotes, 28 kg bullion, and 4 kg gold and jewellery. The cash and valuables were hidden in a secret compartment in the wall of a bathroom of his house in Challakere, I-T officials said. According to the I-T department, the hawala operator, who has not been named yet, was involved in converting old notes and was accumulating bullion using old currency’.

“Rs 5.7 crore in Rs 2,000 notes, and Rs 90 lakh in Rs 100 and Rs 20 notes were seized,” the department said. “Various incriminating documents have also been recovered and Income Tax teams are investigating.”

The search on the premises of the hawala operator was part of operations of the Karnataka and Goa region investigation wing of the I-T department. The I-T authorities also carried out searches on casino operators and bullion traders in Hubballi and Chitradurga region of Karnataka on Friday. Searches were conducted on around 15 premises across Karnataka and Goa in the operations, the I-T department stated.

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