Rs 10 Crore Seized from Chaiwala-Turned-Financer in Surat

Thirteen of his bank lockers have been opened till now, four more are in the process of being opened.

An Indian counts currency notes of 1,000 and 500 denomination in New Delhi. Image used only for representational purposes. (Photo: AP)

The Income Tax department has seized alleged unaccounted assets worth Rs 10.5 crore from a chaiwalla-turned-financier after raids were conducted against him as part of the anti-black money crackdown in the wake of the note ban.

The I-T department sleuths who conducted the searches yesterday (Saturday) at the tea-seller’s premises recovered cash of Rs 1.45 crore, with new currency being at 1.05 crore, bullion 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.

"The total value of the assets seized from the financier, who earlier worked as a chaiwala, is Rs 10.50 crore," I-T sources said as they refused to reveal the identity of the person, citing an ongoing probe.

They added that while 13 of his bank lockers have been opened till now, four more are in the process of being opened and the expected seizure of assets may increase.

The sources added that the interception was made in the city as part of taxman's anti-black money probe post demonetisation.

(With inputs from PTI)