NOIDA: Searches at the house of a former IPS officer led officials of the Income Tax Department to Rs 5.8 crore cash kept in several private lockers, which, they believe, is unaccounted for.
Sources said the IT team had started a survey on Saturday afternoon, and later searched the house of RN Singh, a former IPS officer of the 1983 batch.
“The former IPS officer was running a private firm — Manasam Noida Vault — from the basement of his house in A block of Sector 50. The company was opened in 2017, the same year that Singh retired,” said a senior IT official.
The firm had 700 private lockers, most of which were found to be empty. The cash and some documents were found stashed in 18-20 lockers.
“Unaccounted cash of Rs 5.8 crore has been recovered so far and seized. It was in the denominations
of 2,000-rupee and 500-rupee notes. We have launched an investigation into whether this cash was from some benami property,” the official said.
The company was in the name of Singh’s wife while the couple’s son was the custodian of the lockers. “We are trying to find out if the owner of the lockers had any link with politicians or if the money was being made available to candidates contesting the elections in the state,” the IT official said.
Later in the day, Singh told a news conference, “After my retirement, I stayed in my village. There is a private locker facility that we provide. Two lockers are in my name. Nothing illegal has been found in them except family jewellery. The IT team is searching the other lockers. I don’t know about the cash that has been recovered.”
Sources said the IT team had started a survey on Saturday afternoon, and later searched the house of RN Singh, a former IPS officer of the 1983 batch.
“The former IPS officer was running a private firm — Manasam Noida Vault — from the basement of his house in A block of Sector 50. The company was opened in 2017, the same year that Singh retired,” said a senior IT official.
The firm had 700 private lockers, most of which were found to be empty. The cash and some documents were found stashed in 18-20 lockers.
“Unaccounted cash of Rs 5.8 crore has been recovered so far and seized. It was in the denominations
of 2,000-rupee and 500-rupee notes. We have launched an investigation into whether this cash was from some benami property,” the official said.
The company was in the name of Singh’s wife while the couple’s son was the custodian of the lockers. “We are trying to find out if the owner of the lockers had any link with politicians or if the money was being made available to candidates contesting the elections in the state,” the IT official said.
Later in the day, Singh told a news conference, “After my retirement, I stayed in my village. There is a private locker facility that we provide. Two lockers are in my name. Nothing illegal has been found in them except family jewellery. The IT team is searching the other lockers. I don’t know about the cash that has been recovered.”
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