Rs 15 crore in cash, jewellery worth Rs 5 crore seized during I-T raids in Bengaluru, Mysuru

BENGALURU: Ahead of the Karnataka polls, Income Tax officials conducted simultaneous raids in several places in Bengaluru and Mysuru in the early hours of Friday and seized Rs 15 crore in cash.

According to source, the I-T officials raided the residences of financiers who are funding the contestants for the May 10 Karnataka Assembly elections.

The raids were conducted several parts of Bengaluru and Mysuru, including Shantinagar, Shivajinagar, RMV Extension, Cunningham Road, Sadashivanagar and Kumara Park West, and seized more than Rs 15 crore in cash and jewellery worth Rs 5 crore. Further investigation is on.

In another case, election officers seized Rs 5.22 lakh in undocumented cash at Majestic in the heart of Bengaluru. The officers found the money, kept at Mahaveera Collection Centre during checking. A case has been filed at the Upparapet police station.