Rs 50 Crore in banned Currency seized in Gujarat on poll daytime. The Directorate of Revenue Intelligence (DRI) has recuperated about Rs 50 crore in the restricted money of Rs 500 and Rs 1,000 group in Gujarat on decision day, the Union Finance Ministry said on Sunday.
The rejected notes were seized on Saturday amid the principal period of get together races in the state.
“Following up on a particular knowledge, the officers of DRI, Surat and the Central Goods and Services Tax (CGST) consistence unit in Vadodara struck the premises having a place with Yamuna Building Material in Bharuch and recouped demonetised money notes of the face estimation of Rs 48.91 crore” on December 8/9″, an announcement here said.
“With the demonetised cash recognized by DRI to be of the request of about Rs 49 crore, the fine is required to touch about Rs 245 crore,” it included.
Under the Specified Bank Notes (Cessation Of Liabilities) Act, 2017, keeping demonetised notes is deserving of a fine which might be up to five times the measure of the recuperation at confront esteem.
DRI is directing further examinations and is likewise recording a protestation in court against the three people included, the Ministry said.