I-T dept finds 12 Axis Bank fake accounts in Delhi's Krishna Nagar branch
The Enforcement Directorate is in touch with the I-T team and have begun their investigation, reports say.
Axis Bank has been in the news for the past few days for all wrong reasons. The Income Tax (I-T) department on Friday found 12 fake accounts in Krishna Nagar Branch of Axis Bank in New Delhi.
ANI quoting its sources as saying, the I-T was able to trace these fake companies as black money evaders, as they had used multiple branches of Axis Bank for transactions.
The report said the Income Tax department is trying to analyse the quantum of transactions through these fake companies. The Enforcement Directorate is in touch with the I-T team and have begun their investigation.
The department on Thursday raided Noida Axis Bank branch which revealed 20 fake accounts with deposits of Rs. 60 crores.
On Thursday, IT Department raided an Axis Bank branch located in Noida and unearthed deposits worth Rs 60 crore from twenty fake accounts.
After the raid in Axis Bank branch in Noida, the Income Tax Department conducted a search in Axis Bank Connaught Place branch.
TOI quoted its sources as saying that, systematic deposits were made into these accounts that had been opened in the names of low-income workers and labourers.
The report added that the IT department came to know about the accounts, when a jeweller in Noida sold gold worth Rs 600 crores after the November 8 demonetisation announcement, and deposited the money he got at the Noida branch.
As large number of account holders gathered outside the bank, a police team was also deployed outside the private bank branch.
Thursday's raid comes after the I-T department had conducted a raid at the bank's Chandni Chowk branch in New Delhi last week where they uncovered Rs 100 crore deposited in 44 fake accounts.