The Income Tax Department conducted raids at 16 locations in Bengaluru over the last two days, resulting in the confiscation of a significant sum of cash and gold. The targeted premises belonged to industrialists and gold merchants, India Today reported.
During the operation, authorities seized a substantial amount totalling ₹1 crore and 33 lakh in cash. Moreover, they also confiscated 22 kilograms and 923 grams of gold jewellery, diamonds, and benami property deeds.
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All seizures took place within the Bengaluru South region, the report said. Here are the locations where the seizures occurred:
– Shankarpur, situated within the Bengaluru South Lok Sabha constituency, saw the confiscation of gold jewellery valued at over ₹3 crore.
– Saradevi Road, also within the Bengaluru South Lok Sabha constituency, where gold worth ₹3 crore and 39 lakhs was seized.
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– Mercantile Bank, located within the Bangalore South constituency, witnessed the seizure of gold valued at ₹2 crore and 13 lakhs.
– Jayanagar 3rd Block, a segment of the Bangalore South constituency, saw the recovery of gold worth ₹5 crore and 33 lakhs.
– Saraswat Bank in Chamarajpet, within the Bangalore South constituency, yielded gold bullion valued at 84.
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– On Mata Sharada Devi Road, Bangalore South, a 5.99-carat diamond worth 3 lakh and 14 thousand was found.
– In Jayanagar, part of Bangalore South, a 202.83-carat diamond worth ₹6 crore and 40 lakhs was uncovered.
– Lastly, a 6.38-carat diamond, valued at 3 lakh and 34 thousand, was discovered at the Post Office in Basavanagudi, Bangalore South.
This comes only days ahead of the crucial Lok Sabha election in Karnataka, with as many as 14 Lok Sabha seats in the state going to polls on April 26, with the remaining 14 set to go in for voting on May 7.
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