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IT Department Identifies Rs. 15 Crores Worth “Benami” Deposits Post-Demonetization
November 28, 2017
Cash deposits worth Rs. 15.93 crores were found to be made in a Delhi bank by a person who is “untraceable”. These have been declared “benami” by a special court in the ruling of one of the first cases under the new Benami Transactions (Prohibition) Amendment Act, 2016.
As per the case, Ramesh Chand Sharma, who is reportedly a resident of Old Delhi, deposited Rs 15,93,39,136 cash in the demonetized currency notes of Rs. 1,000 and Rs. 500 in the account of three companies. However, shortly after, demand drafts were issued to a group of a few individuals, something that was picked up by the taxman and led to an investigation.
The matter came to light after a survey was conducted at the Kotak Mahindra Bank branch on K G Marg, New Delhi.
