IT seizes Rs 42 cr in raid at former contractor's residence in Bengaluru

Bengaluru: Income Tax officials conducted a raid on the residence linked to a former corporator in Bengaluru city on October 13 and unearthed an amount of Rs 42 crore stashed in 23 cartons.
According to officials privy to the investigation, the cash was packed in cartons and stashed under the bed of a flat owned by the corporator. The IT sleuths raided five locations linked to the former corporator.
Sources told ANI that a relative of the former corporator owns the flat where cash was stashed. The cash-filled cartons were kept hidden under a bed before they were discovered by the raiding IT team. The seized cash was of Rs 500 denominations.
It is suspected that the seized cash was meant to be used in the election expenses of Telangana and over the raid.
Janata Dal Secular leader and former Chief Minister H.D. Kumaraswamy suspected that the cash-filled cartons were on their way in the election-bound Telangana.
Deputy Chief Minister D.K. Shivakumar alleged that I-T raids are politically motivated and such raids are being conducted not only in Karnataka but in other States as well.
Earlier, IT conducted raids across various locations in Tamil Nadu related to contractors and suppliers of the Tamil Nadu Electricity Board (TNEB) in relation to providing equipment, according to sources.
Raids were conducted at around 10 places in Chennai, including raids at India Private Limited and Radha Engineering Works Private Limited, sources said.