Rs 6.76 crore seized from four government contractors in Mysuru
By Express News Service | Published: 27th April 2018 04:05 AM |
Last Updated: 27th April 2018 04:05 AM | A+A A- |
Higher denomination notes seized from contractors in Mysuru and Bengaluru
BENGALURU: The sleuths of the Directorate of Income Tax (Investigation), Karnataka and Goa, have seized Rs 6.76 crore from four government contractors in Mysuru area during search and seizure operations carried out on several contractors from Tuesday.
The department said hoarding of huge stocks of cash by these persons at a time when cash shortage is reported in some areas in the state raises troubling questions.
The raids were conducted against 11 contractors in Mysuru and one in Bengaluru, over the past three days.
“Investigation Wing indicated that several contractors were in possession of huge stocks of cash in the higher denominations of Rs 500 and Rs 2,000. Searches resulted in seizure of Rs 6.76 crore from four such contractors in Mysuru region. The entire amount seized was in higher denomination notes,” a release stated.
