Demonetization: Rs 1.4 cr cash seized from civil contractor in Delhi

The Income Tax department said on Friday it has seized Rs 1.4 crore cash, including Rs 8 lakh in new currency, in searches on the premises of a civil contractor in Delhi as part of its anti-black money drive post demonetization. Officials said the seizure was made from a civil sub-contractor identified as PL Soni, from a location in the Karol Bagh area.

They said the department conducted the searches based on a tip-off of alleged illegal cash being hoarded at this location. 'The seizure of new currency was made in the denomination of Rs 2,000 notes. The old notes that were seized include the demonetized currencies of Rs 1000/500 and also the legal tender of Rs 100," they said.

The department also conducted a survey operation at the Krishna Nagar branch of Axis bank here in connection with a probe, they said.