Gold, Cash Worth Rs390 Crore Seized in Week-long I-T Raid at Jalna in Maharashtra
IANS 11 August 2022
The Income-tax (I-T) department has seized cash and valuables worth Rs390 crore following a raid on the premises of Maharashtra's Jalna businessman, who deals in garments, real estate and in steel.
 
I-T department's 260 officials divided into five teams carried out a week-long raid. The agency used 120 vehicles to carry out this raid.
 
Sources said that they seized around Rs58 crore in cash, 32kg gold and valuable stones.
 
The source also said that it took 13 hours to count the cash.
 
"It was a week-long raid that started from 1st August. Our Nasik Branch team got the tip off following which the raids were conducted. Seeing the gravity of the matter we formed teams of 260 officials divided into five teams. We also used 120 of our vehicles in the raid," the source said.
 
The source said that the cash recovered from the premises of garments and steel businessman was taken to Nasik branch of State Bank of India, where it was counted for hours. The Bank employees started counting the cash at around 11am, which went on till 1am.
 
The I-T department got the tip-off that there were irregularities in the accounts of four steel companies after which the teams swung into action.
 
The team of 260 officials raided the factories but they didn't recover anything. Later, they raided a farm house where they found the huge amount of cash and valuables.
 
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Comments
Pradeep Deb
4 months ago
It is a disturbingly regular coincidence that names of corrupt businessmen and their enterprises are protected by the authorities, while the identities of victims of sexual assault or raids involving sex work are video taped and spread on social media by the same irresponsible policemen.
saharaaj
4 months ago
How much this cash will reduce the Current deficit account
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