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IT Raids Axis Bank Branch In Noida, Seizes 20 Fake Accounts And Deposits Worth ₹60 Crore

They also recovered over ₹100 crore from 44 suspect accounts from a branch.

15/12/2016 4:34 PM IST | Updated 15/12/2016 4:49 PM IST
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NOIDA -- Income Tax officials on Thursday raided an Axis Bank branch here and seized 20 fake accounts with deposits amounting ₹60 crore, police said.

The raid was conducted around 10 AM at an Axis Bank branch situated at Sector-51.

A police officer said the suspected accounts were opened on the name of several fake companies and a few low income individuals.

"IT officials also found that the directors or owners of these fake companies are daily labourers," a police officer said.

The officer said these fake accounts came to the notice of the IT department when a jeweller in Noida sold gold worth ₹600 crore after the November 8 demonetisation announcement, and deposited the money he got at the Noida branch.

"Most of the money has reached the jeweller through RTGS (Real Time Gross Settlement system)," the official said.

A large number of account holders gathered outside the bank as they were not allowed to go inside. A police team was also deployed outside the Axis Bank branch.

IT officials also recovered over ₹100 crore from 44 suspect accounts in an Axis Bank branch in Chandni Chowk area in Delhi.

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