NEW DELHI, Feb 7:
Enforcement Directorate (ED) seized Rs 7.30 crore in cash and 5.5 kg gold during search operations post demonetisation, the government said today.
During the course, it arrested 18 persons and identified 17 others indulged in alleged money laundering activities following the scrapping of 500 and 1,000 rupee notes on November 8 last year, Finance Minister Arun Jaitley said in a written reply to the Rajya Sabha.
“Post demonetisation…, the Enforcement Directorate has conducted searches under Foreign Exchange Management Act, 1999 (FEMA) and Prevention of Money Laundering Act, 2002 (PMLA). ED has arrested 18 persons and identified 17 others. As a result of these searches, total amount of Rs 7.30 crore and gold weighing 5.538 kg have been seized,” he said.
The Minister said that on the basis of intelligence/ identification of various malpractices, the Income Tax department conducted enforcement action (searches, seizures and surveys) in more than 1,100 cases during the period November 9, 2016 to January 19, 2017.
“Besides, more than 5,100 notices were issued for verification of suspicious high-value cash deposits in bank accounts during the same period. These actions led to seizure of valuables of more than Rs 610 crore which includes cash of Rs 513 crore,” the Finance Minister said.
Jaitley informed that the undisclosed income detected in these actions as on January 10, 2017, has been more than Rs 5,400 crore. (PTI)