Demonetisation Exclusive: How Crores Of Undisclosed Cash Moved Into Lakhs Of Bank Accounts

Nearly 18 lakh companies and individuals are under the government’s scanner for depositing unaccounted cash soon after Prime Minister Narendra Modi announced “demonetisation”, banning Rs 500 and Rs 1000 notes from November 8, 2016.

These individuals and companies had disclosed income in their tax returns far lower than the cash deposits during 50 days ending December 30, 2016 that the government had given to people to deposit the outlawed notes.

Hundreds of bullion traders, property dealers, civil contractors, shell companies, petrol pump owners and cooperative societies moved thousands of crores into multiple bank accounts during November 8, 2016 to December 30, 2016 to obscure the trail of slush funds.

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