I-T dept seizes Rs 62 cr cash from Sanjay Jain, beneficiaries
Oct 28, 2020
New Delhi [India], October 28 : 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.
