Rs 9 crore cash seized from car near Bengaluru's Electronic City

IT officials seized Rs 9 crore cash from a car near Bengaluru's Electronic City, heading towards Hosur. Two people, including one from a TN jewellery firm, were held. A follow-up raid in TN took the total seizure to Rs 10.3 crore.

Rs 9 Crore Seized in Bengaluru

Income Tax officials have seized Rs 9 crore in cash from a car near Bengaluru's Electronic City after police intercepted the vehicle following information about suspected illegal transportation of cash towards Hosur in Tamil Nadu, officials said.

The interception took place on the night of August 18, following a request from the Income Tax Department to Bengaluru City Police for assistance in stopping the vehicle. According to officials, Jagadish, Deputy Director of Income Tax, Unit-22, Bengaluru City, had informed police about a car which was allegedly carrying illegal cash and was travelling from Bengaluru towards Hosur.

Acting on the information, the night beat staff of Electronic City Police Station intercepted the vehicle at around 10:30 pm near the signal after the BETL Toll on Hosur Road. The vehicle, along with two persons travelling in it, was brought to the police station and subsequently handed over to Income Tax officials for further examination.

During the search of the vehicle, Income Tax officials reportedly recovered Rs 9 crore in cash. One of the persons taken into custody has been identified as Sachin, 42, associated with Sindhu Jewellers in Thoothukudi, Tamil Nadu. The Income Tax Department has taken the persons into custody for further questioning to establish the source and intended destination of the cash.

Investigation Extends to Tamil Nadu

The investigation was subsequently extended to Tamil Nadu, where Income Tax officials conducted a search at a residence linked to the persons under investigation. During the search, officials reportedly recovered an additional Rs 1.3 crore in cash, taking the total reported cash recovery in the operation to Rs 10.3 crore.

Officials are now examining the circumstances in which such a large amount of cash was being transported and whether it was connected to any financial or commercial transactions. The agencies are also expected to verify the source of the money, its intended use and whether the cash was being transported in violation of applicable financial and tax regulations.

The interception comes as authorities continue to maintain heightened vigilance over the movement of unaccounted cash and other financial irregularities. Further investigation is underway. (ANI)

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