Hyderabad: As Wednesday marks the first anniversary of the Centre’s move for demonetisation, the legal mess in which several persons, especially businessmen and employees of the Postal department, got in to is yet to clear.
Many had come under the scanner of the Income Tax (I-T), Enforcement Directorate (ED) and Central Bureau of Investigation (CBI), with several of them continuing to be under strict monitoring by these agencies.
Raids carried out by the three premier agencies since November 8 last year had also led to the arrest of a few prominent jewellers and employees of the Postal department, said an official.
While over a dozen employees including the then main treasurer of the Khairatabad Head Post Office were in the dock after the CBI registered a case against them for fraudulently exchanging demonetised currency notes to the tune of Rs 64.97 lakh, the I-T sleuths also conducted raids at several places, including on the Musaddilal jewellery group.
The I-T and ED, while examining transactions after post-demonetisation, found that Musaddilal’s was receiving advance payments. Business was transacted till midnight on November 8 to sell gold, officials said.
While verifying the records of several people, the I-T department had found Rs 7 crore deposited in a cab driver’s account. Prior to this, a team intercepted a few people who ran into a nearby apartment in Himayathnagar on seeing the team. The team recovered Rs 36 lakh when it searched the apartment.
On their part, the city police seized banned currency notes and arrested several people. This included the Tappachabutra Additional Inspector Y Rajasekhar and nine others who were arrested for robbing a Kothagudem businessman of Rs 78 lakh with new currency notes at Filmnagar.
The police provided security at 5,269 bank branches and 8,458 ATMs to maintain order and to facilitate people exchange old currency notes after demonetisation, a police official said.