Rs 90 cr cash, 100 kg gold haul in Chennai tax raids, seizure highest since November 8

New Delhi: The Income Tax department today recovered at least Rs 90 crore cash including in the new Rs 2,000 notes, and 100 kgs of gold bars in searches at multiple locations in Chennai to check instances of tax evasion post demonetisation. The raids to seize unaccounted cash took place at eight locations in Chennai including in plush areas of Anna Nagar and T Nagar. IT is questioning three persons who have been identified as Srinivasa Reddy, Sekar Reddy and Prem. It appears to be a major money exchange racket that's been busted. The seizure of the new currency notes of Rs.2,000 is said to be the highest since it was introduced after the November 8 demonetisation of Rs 500 and Rs 1,000 notes. (This is a developing story, will be updated as more details  come in)