Income tax department raids hawala operators and seizes Rs 62 crore cash

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The Income Tax Department raided the hawala operators and fake bill makers and seized cash worth Rs 62 crore. This unaccounted money has been recovered from the premises associated with an entry operator named Sanjay Jain. Officials said on Wednesday, 2000 and 500 rupee notes were hidden in wooden cupboards and furniture. The Income Tax Department on Monday raided 42 places in Delhi-NCR, Haryana, Punjab, Uttarakhand, and Goa. During this period, there were indications of illegal transactions of around Rs 500 crore allegedly by hawala racket.


2000 and 500 rupee notes were hidden in cupboards and furniture

Earlier, the Central Board of Direct Taxes (CBDT) on Tuesday reported Rs 2.37 crore cash and Rs 2.89 crore worth of jewelry recovered during the raid. During the investigation, it was revealed that the entry operators had saved unaccounted money by making fake bills in the name of the mask companies and the firm. These people controlled all bank accounts by making their employees dummy directors and partners of these masked companies.