IT raid finds 20 fake accounts in Noida branch of Axis Bank

This came just days after the Income Tax department found several fake accounts with huge sum of money deposited in the Chandni Chowk branch.

By: News Desk |
December 15, 2016 1:42 pm

The Income Tax department who conducted a raid on Thursday found over 20 fake company accounts in the Noida sector 51 branch of Axis Bank.

According to reports, a whooping amount of Rs 60 crore in these fake accounts.

Noida: Visuals of Axis bank in Noida sec 51 where Income Tax Dept raided & found accounts of 20 fake companies with over Rs 60 Cr in them pic.twitter.com/wtH4Xqs3eI

— ANI (@ANI_news) December 15, 2016

This comes just days after IT department found huge amount of money deposited in separate accounts in Axis Bank’s Chandni Chowk branch

the CBI arrested a senior official from the Reserve Bank of India for helping touts convert the now banned Rs 500 and Rs 1000 currency notes in new notes in Bengaluru.

The Delhi High Court had recently extended the Police Custody of Axis Bank manager Vineet Gupta and sending another manager into 14-day judicial custody. Both the bank officials were arrested after they were accused to have been involved in the conversion of the old currency notes into the new ones.

They had allegedly helped the money hoarders to deposit over Rs.40 crore in multiple bank accounts and transfer funds online. The bank has suspended both the officials.

A number of other cases across the country have also popped up after the Income Tax department have gone ahead and seized unaccounted income in surprise raids post Prime Minister Narendra Modi’s decision to demonetise Rs 500 and Rs 1000 notes.