IT raid on Axis Bank branch in Ahmedabad concludes, documents, other materials seized

Ahmedabad: The IT raid on a local branch of private sector Axis Bank in connection with alleged irregularity in transactions after demonetization which lasted whole night concluded early morning today with seizure of some important documents.

The raid on Memnagar branch of the bank was reportedly prompted by an email complaint regarding large scale irregularity in after the announcement of scrapping of Rs 500/1000 notes on November 8.

An IT official said that during the raid in which an assistant commissioner rank officer of the department was also physically present CCTV footage of the bank cameras, Hard disc of computers containing various suspicious transaction details and some papers have been recovered. Statements of the bank manager and some other employees have also been recorded.

He refused to divulge more details, however, it is learnt that over Rs 85 crore in old scrapped notes were deposited in just around 19 accounts of the bank after demonetization. The role of the branch manager and some other staffs is also under scrutiny.

DeshGujarat