Cash, bullion worth Rs 200 crore seized in raids by NIA & IT

MUMBAI: A joint operation by the National Investigation Agency (NIA) and the Income tax department (IT) carried out late at night on Monday in Mumbai resulted in seizure of cash, bullion, diamonds worth nearly Rs 200 crore. The final figure of total seizure was not confirmed by officers as counting of currency notes was on till Tuesday evening.

This could be one of the biggest ever seizure in recent history and since counting and valuation is underway, the figures could go up further. So far, 47 persons including delivery boys are being quizzed on details like names of senders and recipients, said sources in the NIA.

Speaking to reporters, IT's Director-General (Investigation) Swatantra Kumar confirmed on Tuesdayevening that the raids happened and large amounts of cash and bullion was seized. Kumar said that the assessment process is till underway. "We could quantify and confirm that it is more than Rs 100 crore, from what so far we have assess However, counting and valuation is being done and we feel that the entire seizure would be of the order between Rs 150 to Rs 200 crore," Kumar added.

The IT department requested four currency counting machines from the Reserve Bank of India (RBI). Asked about details of the operation, Kumar said: "It was a tip off, which the NIA passed on to us, and we have carried out the coordinated operation." The raids started late in the evening at Mumbai Central station and zeroed in on four trucks. These vehicles possibly arrived from the Bhuleshwar-Opera House area. They seized 102 bags from these tempos and asked the persons on board, which included angadias, drivers, helpers and office boys of diamond traders to accompany them to Scindia House in Ballard Estate, the headquarters of Investigation wing of IT department.

IT officials, who are part of the probe panel, said that these bags were to be taken by delivery boys who were to board the Gujarat Mail that leaves Mumbai Central at 10 pmand reaches Ahmedabad at 6.25 am.

Kumar told reporters that they have got hold of codes and addresses of some recipients but all details were not known. "We got a tip off that there is going to be a major unaccounted cash transfer from Mumbai to Gujarat. In these packets we have found cash, diamonds, gold and silver jewellery which we feel is unaccounted and thus transferred through angadia mode." Kumar added.