Income tax officers raid Jaipur financier's premises, seize Rs 10 crore in cash

Jaipur, Aug.26 (ANI): Income tax officials on Wednesday recovered Rs.10 crore in cash during raids on the office and residence of a leading share broker here.

The share broker was identified as Damodar Modi, and he has been accused of evading tax to the tune of Rs. 22 crore.

The raids were conducted at five premises which included two private safe vaults. Lockers at the safe vaults were hired by the broker on fictitious names.

The search of these lockers led to the seizure of Rs 10 crore.

This is the highest cash seizure ever made in Rajasthan by the income tax department.

The earlier record was Rs 7.14 crore in 2006, an IT department spokesman said. (ANI)