The sources further said that in the preliminary investigation the IT Department found that mostly Hawala traders were using that locker to keep their money
Representational picture
The Income Tax (IT) Department has busted a Hawala racket and seized cash worth Rs. 25 crore from Naya Bazar in Chandani Chowk. The IT Department sources told ANI that they conducted a raid at a private vault and recovered the cash amount from more than 100 lockers. The IT sleuths carried out the raid at eight locations across Delhi.
The sources further said that in the preliminary investigation the IT Department found that mostly Hawala traders were using that locker to keep their money.
ADVERTISEMENT
The cash allegedly belonged to some high-net-worth individuals based in the National Capital Region (NCR), including gutkha traders, chemical traders and dry fruit traders. The sources told that these traders were involved in Hawala trading.
This is the second major 'locker operation' by the IT Department this year. Earlier in January, the IT department had seized more than Rs 40 crore in cash from another vault in Delhi's South extension part-2.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
