Bengaluru: Rs 42 crore found in former councilor's flat, packed in 23 boxes; Revealed in IT raid

The Income Tax Department i.e. IT achieved a big success on 13 October. IT officials raided the residence of a former councilor in Karnataka's capital Bengaluru and recovered an amount of Rs 42 crore. This money was kept hidden in 23 boxes.

IT officials said that an amount of Rs 42 crore was packed in boxes. It was then hidden under a bed in a flat owned by the former councilor.

The Income Tax Department team raided five places associated with the former councilor. News agency ANI, quoting sources, said that the flat where the cash was hidden is owned by a relative of the former councilor. The recovered amount was of Rs 500 denomination. It is suspected that the seized cash was to be used in the Telangana assembly elections.

Janata Dal Secular leader and former chief minister HD Kumaraswamy suspected that the cartons full of cash were being taken to Telangana. Meanwhile, Deputy Chief Minister DK Shivakumar has alleged that the IT raid is politically motivated. Such raids are being conducted not only in Karnataka but also in other states.

Earlier, IT had conducted raids at various places belonging to contractors and suppliers of Tamil Nadu Electricity Board in connection with providing equipment, ANI reported citing sources. IT conducted raids at around 10 locations in Chennai, including India Pvt Ltd and Radha Engineering Works Pvt Ltd.