Flying squad seizes foreign currencies worth Rs 43.44lakh

Coimbatore: Election flying squad officials seized foreign currencies worth Rs 43.44lakh from a motorist at Ondipudur in Singanallur constituency on Saturday after he failed to produce valid documents. The team seized bundles of US dollars worth Rs 24.29lakh, Singapore dollars worth Rs 11.31lakh and Euros worth Rs 7.84lakh from Jayaraman. The currency notes were handed over to the income tax department officials.
While seized amount exceeding Rs 50,000 is handed over to treasuries, that exceeding Rs 10lakh is handed over to the IT department.TNN