In order to curb the lump sums of black money hidden, the Income Tax Department started its surgical raids on various parts of the country based on the spy reports.

IT Department on Saturday raided the premises of Bhaijyawala, they interpreted the of city-based tea seller-turned-financier Kishore Mangal’s property and liabilities. The officials seized cash worth approximately Rs 400 crores, including cash, bullion, jewellery and property papers from his possession.

After conductance of raids at his residence, offices, and bank lockers it was found that he had 16 bank lockers which were opened in the names of his family members and himself.

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

Soon after the announcement of demonetization Kishore deposited an amount of Rs 1.5 crore in one of his account, which gained attention from IT Officials, that finally lead to this sudden raid.

Meanwhile at another place the Enforcement Directorate (ED) seized Rs. 30 lakh, of which Rs. 18 lakh were in new currency notes and 2.5 kg gold from the premises of a tailor in Mohali and Chandigarh.