Raid unearths Rs 9.78 crore in cash, 19 kg silver hidden in floor, wall cavities - full details!

The incident in which the Income Tax authorities seized the contraband money which was hidden in the place owned by a jeweler has caused a stir.

Chamunda Bullion is a businessman from the state of Maharashtra. He runs a jewelry store called Chamunda. His store had a profit of Rs 22.83 lakh in the last 2019-20 financial year. His profit for the next year, 2020-21, had skyrocketed to Rs 652 crore. Following this, his total revenue for the financial year 2021-22 reached Rs 1764 crore.

This raised suspicions among the state GST authorities. They have informed the Income Tax Department about this. Following this, the Income Tax authorities conducted inspections at various places owned by Chamunda Bullion. During the search, which lasted for several hours, crores of rupees were confiscated which were not accounted for.

During a search of an office owned by Chamunda, officers found the money hidden in the ground. Part of the floor and walls of that office have been suspicious. Following this, they were demolished by the Income Tax authorities. At that time, the authorities were shocked to find Rs 9.78 crore in cash and 19 kg of silver bricks worth Rs 13 lakh.

Residents said they did not know the cash and silver were there. The office was subsequently sealed. Authorities say it only took about 6 hours to count the money seized.

Businessman Chamunda Bullion has filed a petition in the Mumbai Sessions Court seeking bail to avoid arrest in the case. But the judges, who had earlier refused to grant bail, ordered him to appear before the GST authorities for trial. The incident has caused a stir in Maharashtra.

The 8th Behindwoods Gold Medals Awards will be held this year on May 15 and 22 at the Island Ground in Chennai Island from 6pm to 11.30pm. Ticket booking for this is currently underway. Event ticket pre-booking link: https://www.behindwoods.com/bgm8/