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Seized 1.65 crore belongs to gold bar sale

Published On : 04 Nov 2018

Udupi: The Rs 1.65 crore that was seized by the RPF personnel of the city, from the passengers travelling on Netravati Express train from Mumbai to Ernakulam on Fridaydoes not belong to Hawala transaction. This amount was earned by a certain individual by the name Jaswant Singh from the sale of gold bars.

Jaswant Singh, a native of Rajasthan, is residing in Kannur of Kerala state since the past 13 years. He is doing a business of home appliances and cloth. Since five years he was involved in the sale of gold bars also. Mostly Jaswant used to sell the gold to places like Hubballi and Belagavi.

The money that was recovered is counted and the amount is said to be Rs 1,64,96,500. It is possible that the whole amount is black money. It is learnt that the IT officials have searched the house of Jaswant at Kozhikode. This is a business in which the gold bars are purchases at a relatively lower price and sold at places like Hubballi and Belagavi. Though Jaswant is an IT payer, the officials are investigating for the probability of disproportionate assets than his income, possessing unaccounted money and also transportation of the same without proper documents.

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