Banks, ATMs Not Running in Muslim Areas Modi a 'Tyrant', - Owaisi

[Hindustani78]

http://indianexpress.com/article/in...n-sale-black-money-deposits-in-delhi-4462407/

Unearthing one of the biggest black money rackets in the national capital post demonetisation, the Income Tax department has detected a Rs 300 crore shady bullion sale and over Rs six crore cash deposited in junked notes by a group traders and mill owners. Officials said the department has identified the kingpin of the entire alleged racket as one A Arora who deposited cash of at least five individuals in his bank accounts and soon transferred them through RTGS to the accounts of sugar and flour mills and bullion traders in Delhi.

“A total of Rs 6.72 crore cash in old notes was deposited by these dozen entities. The I-T department has mounted multiple searches on these groups which are still continuing,” they said. The entities and their associates, whose names have not been revealed due to investigations still being underway, have also declared some of their black assets under the ongoing black money window of the Pradhan Mantri Garib Kalyan Yojna (PMGKY), 2016, they said.

Tax sleuths who searched a flour mill based in the industrial area in Delhi found “stock difference of Rs 15 lakh” and several signed cheque books in the names of multiple entities. “Summons have been issued and the department is probing the bank transactions of these entities,” the officials said. The department also raided the premises of a bullion trading firm where I-T officials found that it “had sold around Rs 300 crore of bullion post demonetisation.”

They said the sleuths were “startled” to find that the firm was using a cryptic software called ‘Hazir’ to record its ‘kuchha’ (un-official) and ‘puckka’ (official) sales. “The department has sent the electronic gadgets and mobilephones for forensic retrieval of data that is either hidden or erased,” they added.

The entire racket was being run with an attempt to convert the black money in old notes into white and a number of other people associated with this group are under the scanner of the department, the officials said, describing it as one of the biggest cases of black funds in Delhi since the November 8 announcement. Earlier, the department had found huge irregularities worth Rs 120 crore deposits in a cooperative bank based in the old Delhi area.

 

[Hindustani78]

Ministry of Finance
08-January, 2017 14:41 IST
Text of the Article on Demonetisation by the Union Finance Minister Shri Arun Jaitley


Following is the full Text of the Article entitled “Demonetisation – A Look Back at the last Two Months” by the Union Finance Minister Shri Arun Jaitley:


“Two months have passed since the Prime Minister announced the decision that high denominational currency notes would cease to be a legal tender. Subsequently those notes have been demonetised. When 86% of a country’s currency constituting 12.2% of its GDP, is squeezed out of the market and sought to be replaced by a new currency, there would obviously be significant consequences of that decision. Now that the queues outside the banks have disappeared and the remonetisation has moved ahead, it would be worthwhile to analyse the rationale behind the decision and its impact.


1. Steps against Black Money


The Narendra Modi Government had absolute clarity from day one that it would move against the shadow economy and black money. It’s first decision was to constitute SIT under the directions of the Supreme Court. The Prime Minister had proposed to the G-20 at Brisbane that international cooperation in sharing information with regard to base erosion and profit shifting should be expedited. The arrangement with the United States furthered this object. The NDA Government completed its agreement with Switzerland that w.e.f. 2019, details of assets held by Indian citizens in Switzerland and vice versa would be provided to each other. Since 1996, the Double Taxation Avoidance Treaty with Mauritius was being renegotiated. The treaty effectively incentivised round-tripping. It was renegotiated. Similar treaties with Cyprus and Singapore have also been renegotiated. The Black Money Law dealing with illegal assets outside India opened a window for disclosure with 60% tax and provides a ten year imprisonment.


The Income Declaration Scheme (IDS) 2016 was highly successful with a 45% tax. The PAN card requirement for cash transaction beyond rupees two lakhs put hurdles on expenditure through black money. The Benami law legislated in 1988 and never implemented. It was amended and has been put into action. The GST, which is scheduled to be implemented this year, will provide for better indirect tax administration and being a more efficient law will check tax evasion. The demonetisation of high denominational currency notes was the big step in the same direction.


2. The new normal


In the year 2015-16, 3.7 crore assesses of the total population of over 125 crores, filed income tax returns. Out of these, 99 lakhs declared income below Rs.2.5 lakhs and paid no taxes; 1.95 crores declared income less than Rs.5 lakhs; 52 lakhs declared income between Rs.5 to10 lakhs, and only 24 lakhs declared income above Rs.10 lakhs. No better evidence is required to substantiate that both in the matter of direct and indirect taxes India continues to suffer being a hugely tax non-compliant society.


Expenditure required for poverty eradication, national security and economic development have to be compromised with on account of tax non-compliances. For seven decades the Indian “normal” has been to undertake transactions partly in cash and partly in cheque. “Pucca” and “Kachha” accounts are a part of the business language. Tax evasion has been considered as neither unethical nor immoral. It was just a way of life. Several Governments have allowed this “normal” to continue even though this compromised with larger public interest. The Prime Minister’s decision is intended to create a new “normal”. It seeks to change the expenditure pattern of India and Indians. It is obviously disruptive. All reforms are disruptive. They change the retrograde status quo. The demonetisation puts a premium on honesty and penalises dishonest conduct.


3. The adverse consequences of Cash


Paper currency is a zero interest anonymous bearer bond. It has no name or history attached to it. Crime can take place with or without cash but excessive cash as a medium of exchange is favoured by the underground economy. It results in non-compliance in the matters of tax payments which creates an unjust enrichment in favour of the evader as against the poor and the deprived. Mountains of cash money reach tax havens through the hawala route from the original paper currency. Cash facilitates real time untraceable payments. Cash is the medium which funds bribery, corruption, counterfeit currency and terrorism. Ethical and developed societies aided by technology have consistently moved towards banking and digital transactions as against the excessive use of cash. Paper currency opens the doors for many vices. When Governments are able to collect more tax from tax evaders, they are in a better position to collect less tax from everyone else. Reducing cash may not eliminate crime and terrorism but it can inflict serious blow on them. States have shown that the stores of cash do not disappear on their own till Governments take active steps to reduce the quantum of paper currency.


4. The magnitude of the decision


The Prime Minister’s decision to replace the high denominational currency and eventually demonetise it required both courage and stamina. The implementation of the decision carried pain. It can lead to short term criticism and inconveniences. Drop in economic activity on account of the currency squeeze during the remonetisation period would have a transient impact on the economy. The decision involves high level of secrecy and printing substantial amounts of paper currency, distribution through banks, post offices, banking mitras and ATMs.

The fact that large quantum of high denominational currency has been deposited with the banks does not render this money to be legitimate cash. Black money does not change its colour merely because it is deposited in bank. On the contrary, it loses its anonymity and can now be identified with its owner. The Revenue Department would thus be entitled to tax this money. In any case, the amendment to the Income Tax Act itself provides that the said money, if voluntarily declared or if involuntarily detected, would be liable for differential and high rates of taxation and penalty.


5. The situation today


The period of pain and inconveniences is getting over. Economic activity is being restored. The banks today admittedly have a lot more money available in order to lend for growth. Since this money constitutes low cost deposits with the banks, it is bound to bring down the rate of interest. Both these things have already happened. Lakhs of crores, which were floating in the market as lose currency, have now entered the banking system. Not only has the money lost is anonymity, it’s owners, after being taxed, are entitled to put it to more effective uses. The size of the banking transactions and consequently the size of the economy is bound to increase. In the medium and long run, the GDP would be bigger and cleaner. Money entering into the banking system and officially transacted would give an ample scope for higher taxation – both direct and indirect. The Centre and the State Governments would both stand to gain. The economy would also be serviced by both cash and highly digitized transactions.


6. The Opposition


There was no social unrest while implementing such a major decision. All opinion polls conducted by independent media organizations have shown that an overwhelmingly large percentage of people have supported the Government’s decision. The opposition disrupted a full Session of Parliament. Their protests have been ineffective. Their exaggerated claims on the disruption of the economy have proved wrong. It is a tragedy that a national party like the Congress decided to adopt a political position, opposing both technology, change and reforms. It sided with black money friendly status quo.




7. The marked difference


There was a marked difference in the approach of the Prime Minister and his opponents. The Prime Minister was being futuristic, and thinking of a more modern, technology driven cleaner economy. He is now speaking of cleaning the political funding systems. His opponents want a cash dominated, cash generating and cash exchange system to continue. The difference between Prime Minister Narendra Modi and Rahul Gandhi was clear - the Prime Minister was thinking of the next generation while Rahul Gandhi was only looking at how to disrupt the next Session of Parliament.”


*****************************

 

[Hindustani78]

http://www.deccanherald.com/content/590466/i-t-detects-rs-4807.html
I-T detects Rs 4,807 cr black income;seizes Rs 112cr new notes
I-T detects Rs 4,807 cr black income;seizes Rs 112cr new notes
New Delhi, Jan 8, 2017 (PTI)

Over Rs 4,807 crore of undisclosed income has been detected while Rs 112 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.

Official sources said the taxman carried out a total of 1,138 search, survey and enquiry operations under the provisions of the Income Tax Act since the note ban was declared on November 8 last year, even as the department has issued 5,184 notices to various entities on charges of tax evasion and hawala-like dealings.

The department, they said, has seized cash and jewellery worth over Rs 609.39 crore during the same period even as the new currency seized (majorly Rs 2000 notes) is valued at about Rs 112.8 crore. The value of the seized jewellery in this is Rs 97.8 crore.

"The total undisclosed income admitted or detected as part of this action, till January 5, is Rs 4,807.45 crore," they said. The agency has also referred a total of 526 cases to its sister agencies like the CBI and the Enforcement Directorate (ED) to probe other financial crimes like money laundering, disproportionate assets and corruption as part of their legal mandate.

 

[Hindustani78]

Ministry of Finance
09-January, 2017 12:53 IST
Tax collection figures for the period April -December 2016 show a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015


Direct Tax and Indirect tax collection figures for the period April 2016 to December 2016 have shown a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015.

The details in this regard are as follows:



Direct Taxes



The figures for Direct Tax collections up to December, 2016 show that net collections are at Rs. 5.53 lakh crore which is 12.01% more than the net collections for the corresponding period last year. This collection is 65.3% of the total Budget Estimates of Direct Taxes for F.Y. 2016-17.


As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 10.7% while that under PIT (including STT) is 21.7%. However, after adjusting for refunds, the net growth in CIT collections is 4.4% while that in PIT collections is 24.6%. Refunds amounting to Rs.1,26,371 crore have been issued during April-December, 2016, which is 30.5% higher than the refunds issued during the corresponding period last year.


After accounting for the third instalment of advance tax received in December, 2016, the collections under advance tax stand at Rs.2.82 lakh crore, which is 14.4% higher than the figures for the corresponding period of last year. CIT advance tax is growing at 10.6% while PIT advance tax has registered a growth of 38.2%.



Indirect Taxes



The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to December 2016 show that net revenue collections are at Rs 6.30 lakh crore, which is 25% more than the net collections for the corresponding period last year. Till December 2016, about 81% of the Budget Estimates of indirect taxes for Financial Year 2016-17 has been achieved.


As regards Central Excise, net tax collections stood at Rs. 2.79 lakh crore during April-December, 2016 as compared to Rs.1.95 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 43%.


Net Tax collections on account of Service Tax during April-December, 2016 stood at Rs. 1.83 lakh crore as compared to Rs.1.48 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 23.9%.


Net Tax collections on account of Customs during April-December 2016 stood at Rs. 1.67 lakh crore as compared to Rs. 1.60 lakh crore during the same period in the previous Financial Year, thereby registering a growth of 4.1%.


During December 2016, the net indirect tax (with ARM) grew at the rate of 14.2% compared to corresponding month last year. The growth rate in net collection for Customs, Central Excise and Service Tax was -6.3%, 31.6% and 12.4% respectively during the month of December, 2016, compared to the corresponding month last year. The de-growth in customs collections appear to be on account of a decline of gold imports by about 46% (in volume terms) in December 2016 over December 2015.


*****

 

[Hindustani78]

Ministry of Law & Justice
12-January, 2017 17:08 IST

Demonetization resulted in decline in Terror Funding, Hawala Trade, Human Trafficking, says Law Minister Ravi Shankar Prasad

Union Law, Justice and IT Minister Ravi Shankar Prasad on Thursday said the government’s November 8 decision of demonetization had resulted in sharp decline in terror funding, hawala trade, supari killings and human trafficking, particularly of young girls as sex slaves, mainly from Nepal and the North East.

Indicating that the government would not hesitate to take steps to widen the tax base, he said that development was not possible without enlarging the tax kitty. ``There is only about Rs. Five lakh crore in the kitty of Finance Minister Arun Jaitley for development and it needs to grow,’’ he said.


Addressing a seminar, jointly organized by the Press Club of India, Indian Women Press Corps and the Supreme Court Lawyers’ Conference, he said that a new India, much stronger in its unity and integrity, was emerging, transcending the barriers of caste, creed and religion.


Former Chief Justice of India M. N. Venkatachaliah who presided over the seminar on Fundamental Duties and Economic and Judicial Reforms stressed upon social evolution and education of young minds who can build a better India.


``Every government comes and goes. Our government is transformative government and tools of technology are actively aiding the good governance. There are 110 crore Aadhar cards and 104 crore mobile connections today. Digital governance means faster delivery and even poor and illiterate people in rural areas are showing a new confidence in embracing the digital technology which has given a new vision of hope,’’ the Law and IT Minister said. He also cited examples of Imran Khan, a mathematics teacher from a school in Alwar, Rajasthan whose mobile apps had benefitted 40 lakh children and a woman Satama Devi, a beedi worker from Telangana who had learnt how to use Skype to talk to her grandson in Dubai. ``People like these are change agents. They believe in this new fast emerging India,’’ he said.


Mr. Ravi Shankar Prasad said that Aadhar enabled bank payments through smart phone would prove to be a ``game changer’’ and a tool of empowerment. He said that out of 125 crore people only 3.7 crore pay taxes and 99 lakh file Income Tax returns but have no taxable income, two crore people show annual income of Rs. 6 lakh and only 24 lakh have an annual income of Rs. 10 lakh and above.


Mr. Prasad, himself an activist during JP movement, said the present government has leaders who were all student activists from the days of Emergency and reiterated that the commitment of the government for independence of judiciary is complete.

Admitting that there were issues of infrastructure and judicial appointments, he said that 126 appointments in the higher judiciary were made in the past two years which was the highest since 1999. He said that 131 High Court judges had also been confirmed.


``There is meaningful cooperation between the government and the new Chief Justice of India Justice Khehar and all concerns of judiciary will be addressed,’’ he added. The Minister asserted that independence of judiciary and media and individual liberty was sacrosanct for the government. He said that accountability of political establishment was a positive feature of the democracy. ``The strength of democracy lies in bringing in positive changes like eliminating poll violence from Bihar by the efforts of the Election Commission,’’ he said.


The Law and IT Minister said that a panel, led by Justice Sri Krishna, had been set up to give a report within three months on making India a hub of arbitration.

Veteran Congress leader Dr. Karan Singh, former Lok Sabha Secretary General Subhash Kashyap, former Chief Election Commissioner S Y Qureshi, former BSF chief Prakash Singh, former Governor A R Kohli, IWPC President Sushma Ramachandran, lawyer-activist Ashok Arora and PCI Secretary-General Vinay Kumar also participated in the seminar.

 

[my2cents]

Hyderabad: Hitting out at the government over demonetisation, AIMIM president Asaduddin Owaisi on Monday accused Prime Minister Narendra Modi of being a "tyrant" and alleged banks and ATMs in Muslim dominated areas in the city were not functioning.

"Every family is in distress today...I cannot withdraw my money. Who made this law," the Hyderabad MP said, addressing a public meeting on the occasion of the birthday of Prophet Muhammad 'Milad-un-Nabi'.

The Prime Minister should remember that those standing in queues now to withdraw their money would stand in queue again to vote against him (in the elections), Owaisi said.

Talking about Modi's 'fakir' remark, he asked whether a 'fakir' wears a "Rs 15 lakh suit".

"What type of a 'fakir' is he?...Would any 'fakir' give pain..You are not a 'fakir', you are a 'zalim' (tyrant)," he said.

Modi should come to the old city of Hyderabad to see the suffering of the people as they cannot withdraw their money, said the AIMIM chief about the constituency he represents in Parliament which has a large Muslim population.

"Why cashless economy? We will not do cashless economy.

Give me my money. Credit card, how many credit cards are there in India. I bet there won't be even one or two percent of credit cards with Muslims. Not with Dalits.

"Banks are not open in our Muslim localities. If the bank is open, it is declared 'red zone' and loans are not available.

If ATM is installed, money is not coming out of them in our localities," he alleged.

Claiming that the demonetisation would not have any fruitful outcome, he said experts have estimated a loss of three percent of GDP due to this decision.

The NDA government has failed to check price rise and bringing back black money, Owaisi alleged.

On December 3, the Prime Minister at his rally in Moradabad in Uttar Pradesh had said he was being targeted for cracking down on those with black money.

"I am being hounded as if I have committed some crime by waging a battle against graft. But, what can my opponents do to me? I am a fakir (hermit) jhola ley kar chaley jayenge (I will exit with my little belongings)," Modi had said.





http://www.news18.com/news/politics...atms-not-running-in-muslim-areas-1322237.html

He only talks for Muslims and what about others who live in their neighborhood?? They are suffering equally. If they pay taxes and report their income then they will easily get credit and other loans. In some of these neighbourhoods they don't even pay water bills and electricity bills and expect more services. He should instruct his constituents that they should be good citizens first and then you have every right to demand services and freebies.

 

[Hindustani78]

State Bank of India (SBI) chairman Arundhati Bhattacharya on Thursday said that about Rs 9 lakh crore of close to Rs. 13 lakh crore, which was out of the economic system, has already come back post demonetisation. (HT File Photo)

http://www.hindustantimes.com/india...onetisation/story-bAsvhq7PeTSj5wqiNkOwrI.html
State Bank of India (SBI) chairman Arundhati Bhattacharya on Thursday said that about Rs 9 lakh crore of close to Rs. 13 lakh crore, which was out of the economic system, has already come back post demonetisation.

“Much of the money that was in system has come back. About Rs 15.44 lakh crore was in the system out of which some as in the banks. However, around Rs. 13 lakh crore was out the system, out of which Rs 9 lakh crore has already come back,” she said while inaugurating an ATM in a tea estate at a remote location in Assam’s Morigaon district.

Noting that economic activity has picked up, she said that now only about Rs 4 lakh crore money is out of the system and this is also expected to come back to the system in one and half months’ time.

“Full liquidity will be established in the market by the end of February this year,” she added.

The SBI chairman also denied reports that the demonetisation has affected the tea gardens of the country and said that the tea garden workers had been receiving their wages in cash in the past.

“Post demonetisation, we have sent cash vans to tea estates to meet the cash requirement of tea workers. The banks have also started opening accounts of tea workers and the things are all right now,” she said.

“Business correspondent have been involved and new ATMS are being set up. By and large there is not much impact of demonetisation on the tea gardens as utmost care was taken to meet their requirement,” she said.

Bhattacharya added that the move to transfer toe wages of the tea garden workers to bank accounts will bring financial inclusion in the tea estates. “Workers use to spend whatever they get. As the money comes in the account we will able to offer them personal loans, housing loans and salary advances for the bank and they now would know how much a worker gets monthly,” she said.

 

[nair]

What nonsense!!!!! You go to any ATM in Kerala across you can with draw money, and you wont see anyone standing in Que..... Cross to Tamil Nadu and you can see long queues even today and Can we say Modi is not providing money to Tamil People??? Morons like owaisi see everything thru religious eyes and he is a burden to this country.....

 

[Hindustani78]

http://indianexpress.com/article/in...cy-worth-rs-52-5-lakhs-seized-3-held-4475270/

Unaccounted cash to the tune of Rs 52.5 lakhs, all in Rs 2,000 notes, has been seized at two places in the district and three persons arrested in this connection, police said on Sunday.

Fazlur Rahman (30) and Unnimoyi (52), natives of Kozhikode district, were found carrying Rs 50 lakhs in their baggage during a vehicle search at Valluvampuram between Kozhikode and Manjeri on NH 213 last night, they said.

The accused were travelling in a private bus from Kozhikode to Manjeri, police said, adding, the seizure was effected following a tip-off. They were arrested as they could not account for the money, police said.

In another incident, Rs 2.5 lakhs was seized from a motorcycle-borne youth near the Manjeri police station during a routine check for traffic violation last night. Jamsheer (22), native of Pattrakulam near Manjeri, was arrested and later released on bail, they added.

 

[Hindustani78]

Kishore Bhajiawala used 1,000 fake IDs to illegally convert Rs 1 crore in old notes into new post demonetisation.

Representational image
http://www.deccanchronicle.com/nati...-has-net-worth-of-rs-2000-crore-arrested.html

Surat: The ED on Friday said it has arrested city-based financer Kishore Bhajiawala on money laundering charges and for allegedly using 1,000 fake IDs to illegally convert Rs 1 crore in old notes into new post demonetisation.

The agency said it has placed "Jignesh Kishorebhai Bhajiawala (41) under arrest as per provisions of the Prevention of Money Laundering Act (PMLA) at about 11:45 PM last night" at is sub-zonal office here. He will produced in court today.

The Enforcement Directorate (ED) had registered a criminal FIR against Bhajiawala and some of his family members based on a CBI FIR against him, which was booked after the Income Tax department first conducted searches and seized gold and cash from his premises as part of their operation in December last year to check black money post the notes ban.

Reports suggest that Bhajiawala’s net worth is Rs 2,000 crore, which included several commercial properties, plots and flats in the city.

The case had gained prominence after investigating agencies detected the proverbial rags-to-riches ascent of the 'chaiwala'-turned-financier based in the diamond city of Gujarat.

"The Bhajiawala family has converted a huge amount of their unaccounted money, post demonetisation, into new high denomination currency and other valuables through collusion with bank officials and private persons by impersonating, forgery and by using forged documents.”

"An amount of over Rs 1.02 crore in new currency was seized by the I-T department from his premises during searches at his home, shop and bank lockers held by them. It was also found that the accused had hired several bank lockers in benami names to stash their unaccounted assets," the ED alleged.

Describing the alleged modus operandi deployed by Bhajiawala to generate and stash black money, the ED said, "Bhajiawala in collusion with P Bhatt, the then Senior Manager, Surat Peoples Cooperative Bank Limited, Udhna branch in Surat obtained KYC files and these files were taken outside the bank to several xerox centres to obtain photocopies of IDs available in the said files."

"This way Bhajiawala collected more than 1,000 IDS. Around 200 of these IDs were used by him to obtain new currency in lieu of old currency of Rs 1,000/500 from the said bank," it said.

The agency added that "it is believed that Bhajiawala has used the remaining IDs to obtain new currency through collusion, impersonation and forgery and laundered the same.

"Possibility of Bhajiawala collecting IDs from other financial institutions and their misuse cannot be ruled out as the probe is ongoing," it added.

The I-T sleuths had recovered Rs 1.45 crore cash, with about Rs 1.05 crore in new currency notes, bullion worth Rs 1.49 crore, gold jewellery valued at Rs 4.92 crore, other ornaments worth Rs 1.39 crore and silver ingots priced at Rs 1.28 crore. The total assets of Bhajiawala detected by the IT were about Rs 10.50 crore.

 

[Hindustani78]

http://www.hindustantimes.com/india...under-pmgky/story-fqR8l9EZduBXNPb86MKiwN.html

The Income Tax department has received confirmations for over Rs 300 crore declarations from across the country till now as part of the ongoing black money window called the Pradhan Mantri Garib Kalyan Yojna (PMGKY), brought out by the government post demonetisation.

Officials said I-T department offices across the country have got a number of small to big declarations in this regard after the taxman launched a large number of search, survey, seizure and electronic database analysis operations to check stash funds hoarded or generated post the November 8, 2016 notes ban.

A top I-T department official confirmed that the declarations have reached “well above Rs 300 crore as per latest updated data.”

An analysis report prepared in this regard, also accessed by PTI, said the latest declarations worth about Rs 140 crore have come from a clutch of over three dozen jewellers based in 16 cities of Maharashtra after the department carried out searches and surveys against them.

The report added that a prominent jeweller in Hyderabad has also approached the department to declare alleged black funds to the tune of Rs 100 crore after his claim of getting “advance money from over 5,200 customers on the night of November 8 last year was found wrong” post I-T probe and the local police and the Enforcement Directorate went on to register criminal cases under their respective laws in this instance.

A doctor in a western state is also understood to have approached the taxman to declare Rs 11.50 crore of stash funds, it said adding in an another case involving the same professional declarations worth Rs 7 crore are being made after the department nabbed the ‘benami’ owner of the black money as one taxi driver and later confronted him with the man whose money it was.

A film producer based in Mumbai, it said, is also understood to have come forward to declare Rs 40 crore unaccounted income under the PMGKY which provides immunity from severe penalties and imprisonment under tax laws.

There are few more such cases, the official said, coming across from various parts of the country but collating them on a regular basis is a time taking affair.

In a case in the national capital, an operative of hawala business has represented his case before the taxman to declare Rs 80 lakh stash funds under the PMGKY.

 

[Hindustani78]

http://indianexpress.com/article/india/delhi-police-seized-over-rs-27-cr-after-note-ban-4523699/
By: PTI | New Delhi | Published:February 14, 2017 5:45 am
Delhi Police seized Rs 27.95 crore in 50 days following demonetisation besides ensuring law and order situation outside banks and ATMs in the national capital. According to the annual report of Delhi Police, action was initiated against unscrupulous elements involved in transaction of old and new currency notes in violation of government orders and eight cases were registered and six diary entries were lodged by the police.

“Rs 27.95 crore was seized out of which Rs 3.01 crore was in the denomination of Rs 2000,” said the report.

Following the declaration of scrapping of old Rs 1000 and Rs 500 notes, Delhi Police responded immediately to ensure that no law and order problem arose outside banks and ATMs and sufficient personnel were deployed, it said.

Besides this, the Delhi Police also recovered fake Indian currency notes (FICN) worth Rs 5.74 crore and registered 80 cases in this regard.

The force launched a drive against FICN traffickers and collaborated with other agencies including RBI, Customs and Intelligence Bureau in this regard. Cases of FICN are registered at Parliament Street police station, the report added.

 

[Hindustani78]

Fake notes of Rs 2000 which were dispensed by an SBI ATM in south Delhi.

 

[Hindustani78]

http://www.thehindu.com/news/nation...ver-3-cr-seized-in-rajkot/article17409659.ece

Largest seizure in Gujarat: police

Ahmedabad: The Rajkot Police on Saturday seized fake currency worth over ₹3 crore and arrested six persons, who allegedly ran a fake currency network and a printing facility for ₹2,000 notes.

The police have also seized laser printers, scanners and other materials used to print the counterfiet currency.

Speaking to The Hindu, Anupam Singh Gehlot, Rajkot police commissioner, said, “Six persons have been arrested in connection with the case.”

He added, “We have seized a huge volume of fake currency worth over ₹3 crore.”

Mr. Gehlot added that all the accused in the case are from Rajkot.

The police are probing how big the network of the accused is and who all are involved in it.

The information regarding the racket was acquired during the interrogation of an accused in a cheating case.

According to Mr. Gehlot, this is the largest fake currency volume seized by cops in Gujarat.

 

[Hindustani78]

Hindustan Times, Malda

Police recovered 100 fake notes of Rs 2000 denominations from Alam Sheikh, a resident of Malda’s Baishnabnagar area.(HT Photo)
http://www.hindustantimes.com/citie...desh-border/story-MePF0C5209hf2ELPmjpfrJ.html

West Bengal police on Saturday arrested two persons from two different bordering districts of the state and seized fake Indian currency notes (FICNs) of Rs 2000 denominations with a face value of Rs 2.92 lakh.

Security agencies have made several seizures of fake new Rs 2,000 notes from West Bengal’s districts that share border with Bangladesh in the past two months.

These seizures showed circulation of counterfeit notes continued even after the Centre’s decision to scrap high value banknotes in November last year to purge the economy of black money and fake currency.

A senior police officer of the state’s Murshidabad district on Sunday said that one Alam Sheikh was arrested from near Dhulian Ferry Ghat area after the cops were tipped off about his arrival from neighbouring Malda with a consignment of FICNs.

The police recovered 100 fake notes of Rs 2000 denominations from Sheikh, a resident of Malda’s Baishnabnagar area.

In a separate incident, police arrested one Mukesh Miyan alias Bhutto and sized counterfeit notes with a face value of Rs 92 thousand from him from Malda’s Englishbazar police station area. Miyan is a resident of Sarda Pagla Tola village of the district.

Both the accused were remanded to police custody after they were produced before a court on Sunday.

“We need to interrogate Alam Sheikh to know how he got the notes and where they were printed,” said Murshidabad SP Mukesh.

Significantly, both the arrested persons hail from Malda’s Baishnabnagar and Kaliachawk police stations areas, which have earned notoriety for being the hubs of fake currency smuggling. Majority of the people arrested in the past two months with fake notes hailed from these areas.

“We believe the notes are being smuggled through the unfenced international border at Kaliachawk and Baishnabnagar,” a senior police officer in Malda district said.