In what is one of the biggest seizures and also raises questions about the diversion of money as common man jostles to get a few thousands from the ATM’s and their own accounts. The I-T sleuths seized about ₹90 crores from a few godowns including ₹70 crores of new currency notes in money that was converted at the behest of some influential politicians and bureaucrats, sources told NewsMobile.
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While the I-T raids are good it remains to be seen if the real big fish will land into the I-T net as the front for the money were believed to be some Chennai-based jewellers.
Senior Officials told NewsMobile that the counting of notes was on and the amount may be bigger.
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This is a developing story and the money is still being counted; the initial estimate is based on a briefing by informed sources.