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Rs 120 crore gold, new and old notes seized

seized

New Delhi: Large amounts of old and new currency notes have been seized in the raids post demonetisation.

In a major development, after raids on a company in Delhi and Noida the revenue officials from Lucknow have seized 430 kg of gold, worth around Rs 120 crore, Rs2.48 crore in old notes, Rs 12 lakh in new notes, 80 kg of silver and 15 kg of gold jewellery were also found in the raids.

The gold seized had been diverted illegally after being imported under special economic regulations that made it duty free, officials said. Apart from it the officials have also found records of a huge amount of money transferred.

The raids conducted on Thursday and Friday based on intelligence inputs.

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