As it happened | Tax raids lead to recovery of close to Rs 2cr, several arrests | india-news | Hindustan Times
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As it happened | Tax raids lead to recovery of close to Rs 2cr, several arrests

Officials from the income tax (I-T) department and Enforcement Directorate (ED) conducted several raids across the country on Thursday morning, nabbing a Kolkata-based businessman for converting Rs 25 crore of the scrapped banknotes.

india Updated: Dec 22, 2016 15:08 IST
Agencies
Security forces stand guard as income tax officials raid the home of Tamil Nadu chief secretary in Chennai on Wednesday.
Security forces stand guard as income tax officials raid the home of Tamil Nadu chief secretary in Chennai on Wednesday. (V Srinivasulu/HT Photo)

Officials from the income tax (I-T) department and Enforcement Directorate (ED) conducted several raids across the country on Thursday morning, nabbing a Kolkata-based businessman for converting Rs 25 crore of the scrapped banknotes as well as intercepting Rs 1.34 crore in Rs 2,000 notes near Chennai airport. Raids at the Tamil Nadu chief secretary’s properties also ended, though officials searched his son’s house on Thursday.

Updates on day’s activities:

1:55pm: I-T officials raided the Nandanam offices of Vivek Rao, the son of former Tamil Nadu chief secretary Ram Mohana Rao, in Chennai

1:30pm: Businessman Parsamal Lodha, arrested by ED in Mumbai for converting over Rs 25 cr in old banknotes, produced before Saket Court

12:09pm: Girija Vaidyanathan to take over as new chief secretary of Tamil Nadu following income tax raids on former secretary Rama Mohana Rao

12:02pm: Police arrests two people with Rs 29.98 Lakh in new currency notes in Karnataka 

11:25am: Directorate of Revenue Intelligence bust hawala gang, seize Rs 1.34 crore in Rs 2,000 notes and USD 7000 from five people in early morning hours, near Chennai Airport

10 am: Kolkata businessman Parsamal Lodha arrested by ED for converting over Rs 25 crore old currency into new

9:54 am: 2 people arrested with Rs 20,31,500 in Chandausi of Sambhal district on Wednesday. Rs 16 Lakh in new Rs 2,000 notes recovered. Probe underway

9 am: ED officials conduct inspections in the state cooperative bank of Kannur, Kozhikode and Thrissur and CBI in Kollam and Malappuram. Officials examining the documents of huge deposits after November 8 to 14th, fake accounts and hawala deposits: ANI

8:55 am: Old currency notes of Rs 500 and Rs 1,000 worth Rs 31 lakhs seized from a person at New Delhi Railway station, income tax department informed: ANI