Bhubaneswar: Stepping up the drive against illegal financial activities in view of the twin elections in Odisha, Income Tax department officials seized around Rs five crore from a vehicle during raids in Bhubaneswar.
According to sources, the seizure was made after a team of I-T officials carried out a special operation in Surya Nagar area of the state capital on Tuesday following a tip-off.
During the crackdown, the I-T team intercepted an SUV and huge amount of cash was found following search of the vehicle. The vehicle reportedly belongs to a contractor, identified as Nihar Ranjan Mandhata of Jajpur district.
As the occupants of the vehicle failed to explain the source of the money, the cash was seized by the I-T sleuths.
While the exact amount of money recovered was still not clear, sources said that cash to the tune of Rs five crore has been seized.
Following the seizure, search operation has been launched at the residence of the contractor in Jajpur and further details are awaited.
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