Demonetisation: I-T seizes Rs 400 crore from Surat based tea seller turned financier

IT department on Saturday raided premises of tea cum ‘bhajia’ seller Kishore Mangal Bhajiawala. He has been found with Rs 400 crore worth of wealth.

I-T department conducted raids at his residence, offices and bank lockers. During the investigation, it was found that he had 16 bank lockers which were opened in the names of his family members and himself.

The financer used to sell tea 30 years ago but is now known as KK Financer Kishore Bhajiawala. He has been paying taxes but sources in the IT department have found his actual annual income more than five times the figure declared by him.

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Kishore Bhajiawala came under the I-T scanner after he made a deposit of Rs 1.5 crore in one of his bank accounts after the government’s demonetisation move that was announced on November 8.