IT Department busts Hawala racket in Delhi’s Chandni Chowk, seizes Rs. 50 crore, counting still on

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The Income Tax (IT) Department team has busted a Hawala racket and seized cash worth Rs. 50 crore from Naya Bazaar in Chandni Chowk from more than 100 private lockers.

According to sources the raids were carried out in at least eight locations across the city.

The counting of notes are still on, and some of the are yet to be opened, according to reports.

This is the first case of Benami Lockers being exposed by the Delhi investigation wing of IT department after The Benami Transaction (Prohibition) Amendment Act, 2016 passed by Parliament in August 2016.

According to the reports the IT officials have been staying at the dry fruit shop for close to a month for counting the notes. The information about the place was received from Hawala rackets on November 5.

The sources added that these Benami lockers were opened on the name of formers employees, current employees and some relatives of the locker owners.

The hawala traders, including tobacco traders, chemical traders and dry fruit dealers, were using these private lockers to keep their money and apparently involved in hawala trading and had big international links.