The old and new notes worth Rs 1.11 Crores were found by the officials in the car as they were unable to reveal about the source of money leading to their detention.
The Income Tax (IT) officials from Thane while tracking a lead believed to have been given by a banker managed to nab a Shiv Sena Corporator and a hotelier on Thursday with alleged possession of unaccounted cash Rs 1.11 crore in new and old currency notes.
A car (MH 48 S 4456) in which Corporator Dhananjay Gawade,43 and Sudarshan Sheregar, 32, a hotelier were traveling was intercepted around 8.30 am by the police and IT teams at Ostwal Nagari of Nallasopara (E). On searching their car the officials found old notes of Rs 500 totally valued Rs 35,23,500 and Rs 1000 notes totally valued Rs 28,92,000. New currency notes totally valued Rs 47,00,000 was also found in the car.
"The cash was kept in the duct of the car in two bundles in blue and white plastic bags and when we questioned them they could not give any satisfactory reply about the source of money", said a IT official on condition of anonymity.
Ashokkumar Ambastha, Assistant Director of Income Tax department (investigations) of Thane division led the raid and took both persons into custody for investigations.
Yogesh Kumar, Additional Superintendent of Police, said, "We assisted the IT officials in the operation and conducted the panchnama."
Sources from the Income Tax department confirmed that the tip-off about alleged unaccounted cash came from a banker, whose name has been kept anonymous. "We were expecting more cash in the raid but it turned out to be Rs 1,11,15,500", said the officer.
Gawade is the leader in the house of opposition in Vasai-Virar Municipal Corporation from Shiv Sena. The leaders now have demanded his expulsion from the party after the crackdown.
Cops seize 21 Lakhs in new notes
The Khadakpada police have taken two persons - Mayur Thakkar and Tushar Manek into custody for allegedly possessing more than Rs 21 lakhs in denominations of new Rs 2000 and Rs 500 notes. Thakkar and Manek have been handed over to the Income Tax department by the Thane police for further probe. Sukhada Narkar, Thane police PRO said, "Two persons were on their scooter when they were intercepted and were caught with new currency notes worth Rs 21,22,000. We have handed them to the IT department for further investigations", said Narkar.
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