In its ongoing black money crackdown the Income Tax department raided the Axis Bank’s Noida branch and uncovered deposits Rs 60 crore from twenty fake accounts. This is the second raid on Axis Bank in a month.
Today a team of I-T department raided the bank and searched the accounts. They found Rs 60 crore in 20 accounts during the search. The team has scrutinised the records to trace the directors of these companies.
The department found these accounts after a jeweller in Noida sold gold worth Rs 600 crores after the announcement of demonetisation and deposited the money at the Noida branch.
Today’s raid conducted after the I-T department last week raided the bank’s Chandni Chowk branch in New Delhi and unearthed Rs 100 crore which deposited in 44 bank accounts.
Axis Bank earlier said that after the demonetisation it had suspended its 19 officials who were allegedly involved in unlawful acts. Axis Bank executive director Rajesh Dahiya said the bank suspended 19 officials including 6 of Kashmere Gate branch of Delhi.
The government already asked the bank to “set its house in order” after several cases of illegally exchanging old notes were detected at the bank.
However, the bank declined receiving any government’s message. A senior bank executive said, “Like other banks, we are interacting with RBI, ED and the tax department almost on a daily basis and cooperating with them. We have not received any communication or there has been no conversation around this.”
Earlier this week, the Enforcement Directorate (ED) arrested two Axis Bank employees and seized 3kg gold bars in connection with an investigation in a money laundering racket which illegally converting old notes with the help of banking authorities.
After the agency registered a criminal complaint on 30th November under the Prevention of Money Laundering Act (PMLA), it found huge amount was transferred through RTGS transfers to some shell companies.
Yesterday, the I-T arrested two managers of Axis Bank’s Kashmere Gate branch who identified as Shobit Sinha and Vinjeet Gupta under the provisions of PMLA.