Even after more than a year after Narendra Modi Government’s demonetization step, officials are unearthing cases relating to the exchange of demonetized notes.
On Thursday, the Central Bureau of Investigation (CBI) conducted search operations at 32 places including the Administrative Office and seventeen branches of a Maharashtra based Co-operative Bank Limited. Search operations were also conducted in residential premises of accused persons at Pune, Baramati, and Lonavala.
Earlier in the day, in its attempt to curb the menace of black money menace, the Centre announced its decision to remove names of 1.2 lakh more firms from the official records for a number of non-compliances. The decision came on the backdrop of a review meeting of the action taken on de-registered firms a few days back.
Also Read: Demonetized currency of about 100 crores raided by Income Tax Department from businessman
According to an official release, the decision was sanctioned by MoS, Corporate Affairs, PP Chaudhary, who asked officials to take action against the companies. Last year in December, the government struck off about 2.24 lakh companies after demonetization, for remaining inactive for a period of two or more years.
A preliminary probe from 56 banks in respect of around 35,000 firms, which involve about 58,000 accounts, revealed that more than Rs. 17,000 crores were deposited and withdrawn after demonetization.
Meanwhile, the Delhi High Court this week, granted bail to a businessman, who was in Enforcement Directorate custody June 2017 in connection with a post-demonetization money laundering case.
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