Rs 10.24 lakh unaccounted cash seized from 2 traders

Tribune News Service

Ludhiana, April 26

The Khanna police during a special checking at a hi-tech naka on a highway here seized Rs 10.24 lakh unaccounted cash from two cloth merchants.

The traders were asked to produce supporting documents of the cash but they failed to do so, following which the police seized the cash and called officials of the Income Tax (I-T) Department and handed over investigation of the case to them.

The cloth traders were reportedly from the city.

Sources said both of them had arguments with police officials, citing that the cash was related to their businesses.

Since they could not produce any document, the police seized the money as the model code of conduct is being implemented in view of the upcoming Lok Sabha elections, no individual is allowed to carry cash exceeding Rs 50,000 without valid documents, the sources added.

Khanna Income Tax Inspector Ganesh Prasad said the case was handed over to the investigating team in Ludhiana.

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