Demonetisation can’t stop people making crores as new bills worth Rs 4.7 crore seized from B’luru


New Delhi: While a common man struggles to fulfill his daily needs with cash shortages of new currencies as more than 80 per cent of cash has been literally sucked out during demonetization process, incidents of seizure of horde of new bills have come to fore since some days.

In the biggest ever such a seizure, the Income Tax Department on Thursday confiscated over Rs 4.7 crore during searches in some areas in Bengaluru. As per sources some 50 IT sleuths and police personnel launched operations at places of Bengaluru, Chennai.

During the course of action Rs 4.7 crore cash in new denomination of Rs 2000 and 0.3 crore worth of old/smaller bills along with around 7 kg of gold bars worth Rs 2 crore have been confiscated by police. IT sources said the said properties could not have been garnered without connivance of bank officials. It was supposed to be obtained by exchange of demonetised notes.

Earlier on Thursday ED seized Rs 10 lakh cash in new notes of Rs 2000 from premises of Kolkata based doctor and made a total of Rs 1 crore as collection from 40 different locations from all around the country.

Recently another such astonishing incident was unearthed in Chandigarh as a brother-sister duo Abhinav Verma and his 20-year-old cousin sister, Vishakha Verma was arrested for duplicating Rs 2000 new bills worth over Rs 2 crore. They brought a second hand Audi worth Rs 20 lakh and had stashed crores at their office. According to information they have duped over 6 black money hoarders.

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