Rs 10 lakh in foreign currency seized from Delhi businessman

  • | Sunday | 24th March, 2019

He added that Gujral was questioned about the source and purpose of carrying the cash.“He said he had to travel abroad and hence, he needed the foreign currency. But he did not have any document showing the source of the cash, like an affidavit from a bank or flight tickets. Noida: Foreign currency worth about Rs 10.85 lakhwas recovered from a Delhi-based businessman’s BMW in Phase 2 area late on Friday night.Car owner Ashish Gujral, who also owns a garment export company called Super Overseas Pvt Ltd, was heading towards his house in Delhi’s New Friends Colony with the money when the vehicle was intercepted on the Noida-Greater Noida Expressway by a flying squad team (FST), led by sector magistrate Ramesh Chand, around 11.30pm.Chand told TOI that while most of the currency was in USD, a part of it was in Euros.He said the BMW (UP16BM7722) was intercepted during a checking drive in Sector 82 area. The cash was seized and the income tax officials were informed,” Chand said.Police said the income tax department was informed according to the guidelines of the Election Commission, which states that after the model code of conduct is in place, carrying any amount of over Rs 50,000 would need documentation and reference of source.Officials have called Gujral on Monday when he would be required to share details about the cash.“If he manages to satisfy the offcials with his explanations, the cash will be released,” an officer from Phase 2 police station told TOI.Mukesh Tomar, general manager (human resource) for Super Overseas company told TOI that Gujral would give his statement to the IT department officials whom he would meet on Monday.

Noida: Foreign currency worth about Rs 10.85 lakhwas recovered from a Delhi-based businessman’s BMW in Phase 2 area late on Friday night.Car owner Ashish Gujral, who also owns a garment export company called Super Overseas Pvt Ltd, was heading towards his house in Delhi’s New Friends Colony with the money when the vehicle was intercepted on the Noida-Greater Noida Expressway by a flying squad team (FST), led by sector magistrate Ramesh Chand, around 11.30pm.Chand told TOI that while most of the currency was in USD, a part of it was in Euros.He said the BMW (UP16BM7722) was intercepted during a checking drive in Sector 82 area. He added that Gujral was questioned about the source and purpose of carrying the cash.“He said he had to travel abroad and hence, he needed the foreign currency. But he did not have any document showing the source of the cash, like an affidavit from a bank or flight tickets. The cash was seized and the income tax officials were informed,” Chand said.Police said the income tax department was informed according to the guidelines of the Election Commission, which states that after the model code of conduct is in place, carrying any amount of over Rs 50,000 would need documentation and reference of source.Officials have called Gujral on Monday when he would be required to share details about the cash.“If he manages to satisfy the offcials with his explanations, the cash will be released,” an officer from Phase 2 police station told TOI.Mukesh Tomar, general manager (human resource) for Super Overseas company told TOI that Gujral would give his statement to the IT department officials whom he would meet on Monday.

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

NYOOOZ FRIEND

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.


Stay updated with all the Noida Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.

Related Articles