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.
Also On HuffPost:
