Mangaluru/Udupi, Feb 1: Income Tax officials on Wednesday raided a co-operative society, and a few residences in Udupi and Dakshina Kannada districts. The team comprised officials of the department from Bengaluru and Goa and the operation started in the morning.
Sources said that a team of 16 officials came from Bengaluru in four Innova cars. Eight officials entered the Society and sent all the customers out before starting the inspection. The other eight went to Shetty's house.
The raid started simultaneously at both the Society and Shetty's residence in the morning. However, the officials are yet to divulge the extent of amount recovered or irregularities in the bank.
Meanwhile, separate teams of I-T department raided houses of a few businessmen in Mangaluru and Puttur.
The raid is said to be a fallout of last month's search operations at South Canara District Central Cooperative Bank by the IT and Enforcement Directorate.
Sources said that SCDCC Bank had allegedly facilitated transactions without mandatory PAN card submission for amounts ranging up to Rs. 4,000 crore. It was also accused of facilitating opening of deposit accounts without KYC (know your customer) documents ranging to a few thousand crore rupees. The operations were conducted in at least 12 places.
Besides the residence of Mr. Rajendra Kumar in Karkala, president of SCDCC Bank houses and premises of some of his associates too were searched, the sources said.
Similarly, raids were carried out in Puttur and Bellare in Dakshina Kannada district on the premises of Savanur Seetharama Rai, a prominent businessman, who is also an office-bearer in a cooperative bank there, the sources said.
The sources said that though searches were conducted at the SCDCC bank after the demonetisation exercise, the bank was under the scanner of the department for quite some time. The search and seizure operations are expected to last at least another day, the sources added.
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