Two held with Rs. 2.14 crore cash in Rajkot

Rajkot:  The Economic Offences Wing (EOW) of city police apprehended two individuals on Thursday and seized Rs 2.14 crore in cash from them. The income tax department was alerted about the cash seizure. The individuals were identified as Nilesh Bhalodi (43) and Jaysukh Fefar (25).

Acting on a tip-off about a large cash transaction, the police intercepted these two individuals near Bedi Chokdi and recovered Rs 90 lakh from their car. Further investigation revealed additional cash hidden in a commercial building at Nana Mauva Circle, where Rs 1.24 crore was recovered.

According to the police, the accused operated two separate firms at Upleta APMC, dealing in buying and selling agricultural produce. They allegedly facilitated business for traders seeking to evade taxes by operating without invoices. “These individuals registered the two firms to facilitate cash transactions for other traders. They would charge a commission of Rs 550 for transactions of Rs 1 lakh before giving cash to traders in Upleta APMC,” said the police. DeshGujarat