Two grilled by I-T for withdrawing 20 cr in a day

Apr 12, 2011 |

chennai

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As part of surveillance of large cash withdrawals ahead of the Tamil Nadu Assembly polls, Income Tax officials are questioning two persons, who worked as conduits for traders and withdrew Rs 20 crore from a bank on a single day in March.

An I-T team is questioning two cheque clearing agents who worked as 'conduits' for traders in receiving Rs 20 crore from a private bank in Erode district.

"The large cash withdrawals made from a private bank in Erode, amounting to more than Rs 20 crore on a single day in March 2011 were investigated. In this connection the team conducted a survey on a cheque clearing agent and two receivers of the cash from the agent," a release issued here by the department said.

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