IT Dept seize Rs 1.27 cr

Chennai, Nov 26 (UNI) Officials of the Income-Tax Department seized Rs 1.27 crore of unaccounted money, suspected to be part of Hawala transactions, from the Correspondent of an Engineering college at the airport here and conducted raids at his house and office in Thanjavur today.

Airport sources said acting on information, IT officials intercepted Correspondent of the Thanjavur-based Ponnaiah Rama Jayam Engineering College Murugesan and seized the currencies when he arrived by an Indian flight from New Delhi around midnight. The flight which was scheduled to arrive here at 2230 hrs, landed at 0015 hrs.

The currencies were found concealed in a suitcase. Since he was not able to give proper account and did not possess any valid documents, IT officials suspected it to be part of Hawala transactions.

After interrogating him at the airport and at the IT office in Nungambakkam in the city, the IT officials raided his house and office at Thanjavur.

The raids which began in the wee hours were still continuing, reports received here said.

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