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Those indulging in converting black money into white won't be spared: Shaktikanta Das

ANI  |  New Delhi [India] 

Battling the opposition's criticism on its sudden move to ban the big currency notes to check black or untaxed money, Economic Affairs Secretary Shaktikanta Das on Friday said the people who are indulging in or colluding with money laundering or converting into white will not be spared.

"Those indulging in or colluding with money laundering or converting into white will not be spared," Das tweeted.

"Trails being pursued by agencies. Coordinated action underway. Result already visible. Will be more visible in coming days," He said.

In the biggest seizure of cash in new currency post demonetisation, the Income Tax department on Thursday confiscated over Rs 4.7 crore during searches in a dozen premises in Bengaluru and other locations.

Also the Delhi Police on November 23 seized over Rs 3.5 crore in high value demonetised currency notes from three persons in north Delhi's Kashmere Gate.

On November 20, a man was detained on west Delhi's Tikri border while he was driving towards Haryana in a SUV with a bag containing Rs 49,96,000.

On November 18, Nazer-e-Alam, a resident of Gorakhpur, was arrested with Rs 96 lakh in old currency notes of Rs 1,000 denominations. He was carrying a bag with Rs 96 lakh and couldn't offer any satisfactory explanation for possessing such a huge amount of cash.

On November 17, police had seized 500 demonetised notes of Rs 1,000 denominations from an employee of a West Bengal-based firm, onboard Sealdah-Delhi Rajdhani train.

Police had detained a paediatrician with Rs 69,86,000 in Rs 100 denominations in central Delhi's Paharganj area on November 16.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 02 2016. 10:57 IST