Rs. 12-crore assets seized from tea seller in Surat

Income Tax officials in Surat have seized alleged unaccounted assets worth Rs. 12 crore from a tea seller-turned-moneylender after searching his house on Saturday as part of the nationwide crackdown on black money.

The officials acted on a tip-off on his operations and recovered Rs. 1.45 crore in cash, including Rs. 1.05 crore in new banknotes.

They also seized bullion worth Rs. 1.49 crore, gold jewelry valued at Rs. 4.92 crore, ornaments worth Rs. 1.39 crore, silver ingots priced at Rs. 1.28 crore and documents of immovable assets.

“The total value of the assets seized from the moneylender, who earlier ran a tea and snacks stall, stands at Rs. 12 crore and is likely to go up as more details come out,” sources in the Income Tax Department said. They refused to reveal the identity of the person.

So far, 13 of his bank lockers have been opened, and four more have been found.

He lent money at a high rate to small businessmen in the city.