Coimbatore

₹5.32 crore of bank meant for ATMs seized by flying squad

A flying squad here seized ₹5.32 crore from a secured vehicle of a private bank for lack of supporting documents, on Friday. The cash was being transported by Axis Bank to replenish its ATMs in Dharmapuri and Krishnagiri.

The vehicle was intercepted at Sesampatty, along Dharmapuri-Salem national highway.Even as the security in the guarded vehicle claimed that the cash belonged to the private bank, there was no supporting documents for proof. The cash was seized and deposited in the district treasury.

Meanwhile, in an early morning raid by the IT sleuths, ₹25 lakh was seized from the house of a businessman near Marandahalli on Friday.

The raid was carried out following a call to the control room that cash was stacked in the houses of three persons. Following this, the flying squads were alerted and dispatched to the house of S. Polliathan, a local businessman.

However, since the flying squads were not empowered to enter houses, IT teams were also alerted. A raid was carried out and ₹25 lakh was found. However, similar raids in houses of two others named by the caller, yielded no cash.

However, according to the administration sources, Polliathan had stated that the cash will be proved as bonafide with requisite documents and collected back.

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Printable version | Jun 3, 2020 11:44:14 AM | https://www.thehindu.com/news/cities/Coimbatore/532-crore-of-bank-meant-for-atms-seized-by-flying-squad/article26750710.ece

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