IT dept raids 16 locations in Bengaluru, recovers crores in cash, gold, diamonds: Report

Income Tax Department raids 16 locations in Bengaluru over two days, resulting in the seizure of a significant amount of cash and gold.

Published on: Apr 24, 2024, 16:03:55 IST

By Yamini C S

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The Income Tax Department conducted raids at 16 locations in Bengaluru over the last two days, resulting in the confiscation of a significant sum of cash and gold. The targeted premises belonged to industrialists and gold merchants, India Today reported.

The IT department officials conduced raids in Bengaluru only days before voting for 14 Lok Sabha segments in Karnataka. (Representational photo)

During the operation, authorities seized a substantial amount totalling ₹1 crore and 33 lakh in cash. Moreover, they also confiscated 22 kilograms and 923 grams of gold jewellery, diamonds, and benami property deeds.

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All seizures took place within the Bengaluru South region, the report said. Here are the locations where the seizures occurred:

– Shankarpur, situated within the Bengaluru South Lok Sabha constituency, saw the confiscation of gold jewellery valued at over ₹3 crore.

– Saradevi Road, also within the Bengaluru South Lok Sabha constituency, where gold worth ₹3 crore and 39 lakhs was seized.

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– Mercantile Bank, located within the Bangalore South constituency, witnessed the seizure of gold valued at ₹2 crore and 13 lakhs.

– Jayanagar 3rd Block, a segment of the Bangalore South constituency, saw the recovery of gold worth ₹5 crore and 33 lakhs.

– Saraswat Bank in Chamarajpet, within the Bangalore South constituency, yielded gold bullion valued at 84.

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– On Mata Sharada Devi Road, Bangalore South, a 5.99-carat diamond worth 3 lakh and 14 thousand was found.

– In Jayanagar, part of Bangalore South, a 202.83-carat diamond worth ₹6 crore and 40 lakhs was uncovered.

– Lastly, a 6.38-carat diamond, valued at 3 lakh and 34 thousand, was discovered at the Post Office in Basavanagudi, Bangalore South.

This comes only days ahead of the crucial Lok Sabha election in Karnataka, with as many as 14 Lok Sabha seats in the state going to polls on April 26, with the remaining 14 set to go in for voting on May 7.

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More

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