I-T raids Axis bank in Noida, finds Rs 60 cr in 20 shell company accounts
On a trail of a jeweller who allegedly sold bullion worth Rs 600 crore, the Income Tax Department on Thursday unearthed Rs 60 crore from the accounts of 20 shell companies in a raid at an Axis bank branch at sector 51 in Noida.
A team of the department on Thursday raided the Axis bank branch in Noida and searched the accounts.
In the search, Rs 60 crores were found in 20 accounts of as many shell companies, an official said, adding that the I-T team was scanning the records to trace the directors of these companies.
An I-T team had earlier found that a jeweller in Noida had sold gold bricks worth Rs 600 crore after demonetisation and has accounts in the same branch of the bank.
The jeweller's name has not been disclosed by the officials yet.