Rs 8.75 crore seized from scrap dealer in Erode

COIMBATORE: Officials of the Directorate General of GST Intelligence (DGGI) on Friday seized Rs 8.75 crore following a search at the residence of a scrap iron dealer in Erode. The searches were carried out in the premises of Selvakumar (29), a scrap dealer from Nallikavundanpalayam near Ingur, after he failed to file GST returns for the past six years.

During the initial search of his scrap yard, officials recovered Rs 15 lakh in cash. Suspecting that unaccounted cash had been concealed elsewhere, the DGGI team, assisted by police and Income Tax sleuths, searched his locked house located nearby.

The officials discovered bundles of cash kept in the bureau. The money was counted using counting machines in the presence of Selvakumar’s family members, with the entire process being videographed. The cash was later deposited in a nationalised bank under tight security.

An inquiry is under way with Selvakumar and further action is likely based on the outcome of the probe.