Bengaluru: Police, I-T dept seize Rs 10.3 cr, probe money trail

Bengaluru: A joint operation by the Income Tax Department and Electronic City police has led to the seizure of more than Rs 10 crore in cash allegedly being transported from Bengaluru towards Tamil Nadu.

The operation took place on the night of August 18 after Income Tax officials received information that a large quantity of cash was being moved towards Hosur in a Hyundai Creta with registration number KL 20 T 8629.

Following the alert, Electronic City police personnel intercepted the vehicle at around 10.30 pm near a signal located beyond the BETL toll on Hosur Road. Two occupants were detained, and the vehicle was handed over to the Income Tax authorities.

During the search of the car, officials discovered Rs 9 crore in cash kept inside a suitcase. One of the persons detained was identified as Sachin, 42, who is said to be linked to a jewellery establishment based in Tamil Nadu.

The Income Tax team subsequently expanded the investigation and conducted a search at Sachin’s residence in Tamil Nadu. Officials reportedly recovered an additional Rs 1.3 crore from the house.

The combined seizure has therefore crossed Rs 10.3 crore.

Two detained, handed over to I-T dept

Electronic City division DCP M. Narayana confirmed that the two persons detained in Bengaluru were handed over to the Income Tax Department along with the vehicle.

The primary focus of the investigation is now to establish the origin of the cash and identify the person or persons to whom it was allegedly being transported.

Officials are also examining the financial records and possible business connections of the detained persons. Investigators are likely to determine whether the cash was generated through legitimate business transactions but remained undeclared, or whether it was linked to any other unlawful financial activity.

The police action came after the Income Tax Department shared specific intelligence with the Electronic City police, following which the vehicle was traced and intercepted.

Officials said the investigation is at an early stage, and further details are expected to emerge after the Income Tax Department completes its examination of the seized cash and the financial trail connected to the two detained persons.

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