An Income Tax department's raid in Chennai unearthed over Rs. 9 crore in new currency notes at a time when banks would allow withdrawal of only Rs.24,000 cash per person per week due to post-demonetisation cash crunch.
Rs. 96.89 crore in demonetised notes, Rs. 9.63 crore in Rs. 2000 notes and gold weighing 127 kg worth Rs. 36.29 crore were seized from J. Sekhar Reddy and two of his associates after three days of raids.
What followed was a joint probe by taxmen, CBI and Enforcement Directorate.
Published - March 21, 2017 12:39 pm IST