I-T dept seizes Rs 62 crore cash from Sanjay Jain, beneficiaries

New Delhi: Income Tax Department has seized Rs 62 crores cash from entry operator Sanjay Jain and his beneficiaries during raids, sources said. This is among the biggest cash seizures from Delhi-NCR post demonetisation. Raids are underway in 42 premises of Delhi-NCR, Punjab, Haryana, Uttarakhand and Goa, sources said. Sources added that as entry operator, […]

New Delhi: Income Tax Department has seized Rs 62 crores cash from entry operator Sanjay Jain and his beneficiaries during raids, sources said.

This is among the biggest cash seizures from Delhi-NCR post demonetisation. Raids are underway in 42 premises of Delhi-NCR, Punjab, Haryana, Uttarakhand and Goa, sources said.
Sources added that as entry operator, Sanjay Jain was running operation of huge cash generation through fake bills.

“Several shell entities/firms were used for layering of unaccounted money and cash withdrawals against fake bills and unsecured loans. Documents showing entries of over Rs 500 crores seized,” they added.

 

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