The raids conducted at the offices and residences of two chief engineers of the Public Works Department & three others linked to them by Income Tax Department has fetched Rs 6 crore cash and over 14 kg gold/jewellery so far. Rs 4.7 crore out of Rs 6 crore cash is in Rs 2,000 denomination.
Searches were conducted at multiple locations belonging to Cauvery Neeravari Nigam Managing Director TN Chikkarayappa, State Highway Development Project Chief Project Officer SC Jayachandra, Kannan Borewells owner Sibi Chakravarthy and Civil Contractor Ramalingam. Umashankar, a senior manager of a private bank, is behind the exchange of crores of old currency in the black market. IT Sleuths covered as many as 18 locations in Bengaluru, several other places in Erode and Chennai.
Apart from cash and gold, Several property related documents have been seized during the raids. One of the two chief engineers have a sports car, Lamborghini. IT Sleuths need few more days to examine the seized documents.