KOLKATA: The Income Tax Department has seized a large amount of foreign currency in Kolkata, said an official on Wednesday, adding that three people have been detained.
A large amount of foreign currency -- approximately Rs five crore in Indian currency -- was seized during a raid in the Park Street police station area. The investigators have detained three people in connection with the incident.
Acting on a confidential tip-off, officials from the Income Tax Department conducted a raid within the jurisdiction of the Park Street Police Station. The operation resulted in the seizure of 4, 75, 000 US Dollars and 3, 00, 000 Thai Baht. When calculated in Indian currency, this amounts to a staggering Rs 4, 54, 82, 500.
The officials are investigating how these three individuals came into possession of such a massive amount of foreign currency. It was learned that the three individuals were unable to provide adequate documentation to substantiate the source of the funds.
Consequently, Income Tax officials detained the three individuals. A case has been formally registered in accordance with established procedures, and the three detained individuals are currently undergoing interrogation.