Rs 2.2 crore cash unaccounted cash in Chandigarh | Demonetisation

2.2 crore of cash seized in Chandigarh

Chandigarh, December 14

The drive against black money is unearthing large hoards of unaccounted money even in Chandigarh. The Enforcement Directorate on Wednesday seized Rs 2.19 crore in old and currency notes from here as part of its operation to check hawala trade in the wake of demonetisation.

Officials said the sleuths of the agency swooped down on the premises of the cloth trader and a few other locations here, based on a tip-off received by them about huge illegal currency-stashing.

While the ED said Rs 18 lakh in new notes was recovered, the Chandigarh Police said Rs 69.35 lakh in new currency was recovered during the raid.

The action has been taken under the provisions of the Foreign Exchange Management Act (FEMA) and the searches are still on, they said.

Chandigarh DSP Ram Gopal said a team led by ED’s Deputy Director Gurnam Singh conducted a raid and seized Rs 1.50 crore in demonetised currency and Rs 69.35 lakh in new currency.

The raid was carried out at house of one Inderpal Mahajan. He has been arrested and a case has been registered against him, the DSP said.

He said the ED team has seized notes for further verification.

The Enforcement Directorate has been carrying out searches and enquiry at various places in the wake of demonetisation. A case has been registered against Mahajan under Section 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating) and 120 B (conspiracy) of IPC and section 7 and 13 of the Prevention of Corruption Act.

The DSP said a case under unidentified bank officials has also been registered. Police said the ED team took the “illegal” cash in its custody for further investigation.