The Hindu : Front Page : Rs. 9.8 crore seized from realtor

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Wednesday, Aug 06, 2008
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Rs. 9.8 crore seized from realtor

Staff Reporter

BANGALORE: The JC Nagar police on Monday night seized Rs. 9.8 crore cash from the apartment of a realtor in Benson Town on a tip-off about the money being brought to the city.

While the businessman claimed that he got the money from Mumbai after selling his property, the police are investigating the veracity of the claim. They have taken the help of the Income Tax Department and the Directorate of Revenue Intelligence to go to the roots of the deal.

According to Deputy Commissioner of Police (North) Syed Ulfat Hussain, the police were tipped off about the cash in the house of Syed Tamiz Hisham, a realtor. A team of policemen went to Mr. Hisham’s flat and recovered 10 bags and suitcases containing cash. “There were bundles of 100 notes of Rs. 50, Rs. 100, Rs. 500 and Rs. 1,000 denomination,” he said. The currency bundles had bank slips, he added.

Long time

It took nearly nine hours for police to count the money. The city police requisitioned services of three State Bank of India officials, who came to the flat with three counting machines. “It took one hour to count every one crore,” he said. Mr. Hussain said the money had been deposited with the jurisdictional magistrate court.

The police are verifying the claims made by Mr. Hisham. “The money looks to have been brought from Mumbai,” Mr. Hussain added.

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