Rs 5.7 crore cash in new notes recovered from hawala dealer's 'secret bathroom chamber'

The Income Tax department has seized a crores of cash in new currency notes conducted during raids post demonetisation.

Rs 5.7 crore in new notes, Rs 90 lakh in old ones and 32 kg in bullion was recovered from  by the Income Tax department on Saturday during a raid was seized from ‘secret bathroom chamber’ of hawala dealer in Karnataka.

Initial reports suggest that one of the dealers are into the business of converting the old notes into the new currency notes. The Income Tax department has also recovered some questionable documents.

This comes just a day after the Income Tax department recovered Rs. 106 crore in cash, including Rs. 10 crore in new currency, and gold bars weighing 127 kg in searches at multiple locations in Chennai. The new Rs. 2,000 currency notes seized had no banking slips on them.

Last week, the Income Tax seized at least Rs 4.7 crore during raid in a number of premises in Bengaluru and some other places.

A large team of police personnel have launched a massive search operation to recover unaccounted income in parts in Bengaluru, Chennai, Erode and other places since the time Prime Minister Narendra Modi announced his decision to demonetise Rs 500 and Rs 1000 currency notes.