Times of India Report: 'Many Indians sending black money to Bangladesh'
With the Indian Income Tax Department turning the heat on black money hoarders in the wake of government's banning currency notes of high denomination last month, many Indians could be sending their black money in new notes to Bangladesh to escape the I-T net, The Times of India reported yesterday.
In a story datelined Guwahati, capital of northeastern Indian state of Assam, it said the possible modus operandi caught the attention of Indian security agencies after the Border Security Force (BSF) on Thursday seized Rs 29.70 lakh in new Rs 2000 notes from two people at Nokchi, bordering Bangladesh, in West Garo Hills district in another northeastern state of Meghalaya.
The money belonging to an Indian cloth merchant was meant to be delivered to one coal exporter at Gasuapara in Meghalaya. Gasuapara is the export hub of coal for the Garo Hills region and from here huge quantities of coal are sent to Bangladesh through international trade on an annual basis.
This has given rise to suspicion that money was meant for smuggling into Bangladesh through coal consignments for a safe keep.
"The porous India-Bangladesh border is a known conduit for entry of fake Indian currency notes by some Bangladeshi racketeers who are also involved in smuggling of cattle from India. The reverse flow is possible and Indians could be sending their black money to Bangladesh through the same racketeers," the daily quoted an unnamed source as saying.
A BSF spokesman said the personnel carried out an operation on Hill Road and apprehended two Indian nationals, Nasib Miya, 23, and Bilal Hossain, 22, both residents of Pubergram village at Mankachar in Assam, along with the notes.
"The apprehended people revealed that the seized currency belongs to one Sanjay Agarwal, a cloth merchant of Mankachar, and the consignment of money was to be handed over to one coal exporter, Lophu Sangma of Balaji Coal Export Company of Gasuapara," the spokesman said.
"There are 1,485 new Rs 2000 notes and other smaller denomination notes amounting to Rs 3,205," he added.
Intelligence agencies are also looking into a possible terror link to the seized money, the unidentified source told the newspaper.
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