Day 3: I-T sleuths seize Rs 24 crore in new notes, 50 kg gold

The I-T department has so far seized Rs 131.1 crore in cash, out of which Rs 34 crore are in new currency notes, apart from 177 kg of gold.

“The cash, kept in the goods vehicle, was continuously on the move in order to confuse us. However, we got a clear indication of it and seized the amount.  We are continuing the raids and more seizures are on the way,” a senior I-T official told DTNext. 

Similarly, the I-T sleuths, who continued the raids on the houses and companies owned by Sekhar  Reddy and his associates Srinivasa Reddy and Prem Reddy for the third consecutive day, raided a flat owned by Sekhar Reddy near Valluvarkottam and seized 50 kg gold bars kept in a room. 

Large seizure of new currencies has shocked the I-T officials. “At present, our aim is to dig out all the assets stacked up by Sekhar Reddy. Once we complete it, we will be investigating how he managed to get the new currency notes in such large quantities. There is no ambiguity regarding the role of bank officials behind this,” the official said.The I-T officials said that the department will not hand over the cases to other agencies. “They have asked us for details and we have provided them. If they think there is a need to launch an investigation from their side, they will do it. But our case will remain with us,” the I-T official said. 

In another development, Andhra Pradesh Chief Minister Chandrababu Naidu has directed the department to remove Sekhar Reddy as Tirumala Tirupathi Devasthaman (TTD) Board Member.