Income Tax Department seizes Rs 10.50 Crore assets from ‘Chaiwala’ turned Financier in Delhi

The demonetisation of ₹500 and ₹1,000 banknotes was a policy enacted by the Government of India on 8 November 2016, wherein usage of 500 and 1000 rupee notes was banned.

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Indian Currency. Pixabay

Delhi, Dec 18, 2016: While all the eyes are on the big shots and their hoarded black money stacks, a chaiwaala gives them tough competition.

The Income tax department found unaccounted assets worth Rs 10.50 crore from a chaiwaala-turned-financier on Saturday after raids were conducted against him, as a part of the anti-black money crackdown post currency scrap, mentioned PTI.

A total cash of Rs 1.45 crore, with new currency being at 1.05 crore and assets including bullions worth Rs 1.49 crore, gold jewellery valued at Rs 4.92 crore, other ornaments worth Rs 1.39 crore and silver ingots priced at Rs 1.28 crore was discovered in the humble setting of the chaiwaala.

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According to PTI report, I-T sources have given a statement, “The total value of the assets seized from the financier, who earlier worked as a ‘chaiwala’, is Rs 10.50 crore. 13 of his bank lockers have been opened till now, four more are in the process to be opened and the expected seizure of assets may increase.”

The officials have refrained from revealing the identity of the person citing ongoing probe. Seems like the chaiwaalas all around the world, are on a quest to do something historical in their lives!

– prepared by Shambhavi Sinha of NewsGram. Twitter:  @shambhavispeaks