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  Metros   Delhi  03 Dec 2018  Private vault raided by CBI sleuths, Rs 25cr seized

Private vault raided by CBI sleuths, Rs 25cr seized

THE ASIAN AGE.
Published : Dec 3, 2018, 1:13 am IST
Updated : Dec 3, 2018, 1:13 am IST

This is the third major ‘locker operation’ carried out by the investigating agencies this year.

(Representational image)
 (Representational image)

New Delhi: A team of the Income Tax (I-T) department on Sunday raided as many as 100 lockers at a private vault in Delhi’s Chandni Chowk area and seized cash worth Rs 25 crore. The raids were carried out in at least eight locations across the city.

Preliminary investigations suggest that hawala traders were using the private lockers to keep their money. The cash allegedly belonged to some high-profile individuals based in the National Capital Region (NCR), including tobacco, chemical, and dry fruit dealers.

 

Sources believe that these businessmen were apparently involved in hawala trading and had big international links.

This is the third major ‘locker operation’ carried out by the investigating agencies this year.

In September, the Enforcement Directorate (ED) raided multiple locations in Delhi and Mumbai in connection with a Rs 700 crore Dubai-linked hawala racket and seized Rs 29 lakh cash and a number of documents. According to sources, the raids were linked to the businesses and alleged illegal financial transactions linked to a hawala operator.

Tags: income tax, raided