CHENNAI: In a two-day late-night operation, authorities seized dummy currency notes with a face value of Rs 9.5 crore from a Kerala-based businessman in Chennai’s Royapettah area, sparking a probe into suspected hawala transactions and financial irregularities.
Acting on a confidential tip about alleged stashing of unaccounted funds, Income Tax Department officials raided a residence on Puram Prakasham Road in Royapettah on Tuesday night.
The operation later saw the involvement of the National Investigation Agency (NIA), with searches continuing until Wednesday. During the raid, officials questioned Rashid, a resident of Kannur, Kerala, and reportedly discovered 2,000-rupee denomination dummy notes worth Rs 9.5 crore hidden in his car.
