CHENNAI: In a fresh haul made by the Income Tax department, £2.40 million cash was found in new notes, adding to the biggest seizure of cash and gold of over £14.20 million. Officials said the new seize was made by sleuths from a car in Vellore on the insistence of the accused already being interrogated in the case.
The department had seized £14.20 million undisclosed assets, including £1 million in new notes and gold bars weighing 127 kg, during searches at multiple locations in Chennai for the last two days to check evasion. "The groups has sand mining license for the entire state of Tamil Nadu. Eight premises (six residential and two offices) were covered in the search. During the search, £9.69 million cash in old high denomination notes and £963,000 in new Rs 2000 currency notes along with gold weighing 127 kg worth approximately £3.63 million were found and seized, as unaccounted assets," the Central Board of Direct Taxes, policy-making body for the IT department said in a statement.
It added that the searches are "still in progress at four out of the total 8 premises and more specific details, including modus operandi would emerge after examination of the documents and other evidence detected during the search." Officials said S Reddy, a contractor working with the state government has claimed the entire money and the gold as his own and is being questioned along with few other people. A senior department official said the seizure of gold and cash was "an unprecedented amount that the tax department has seized in recent times."
