Karnataka: Rs 18 crore cash found in Dharwad apartment ahead of Lok Sabha polls

Dharwad: In a significant development, officials from the Election flying squad seized a staggering amount of Rs 17.98 crores from an apartment in Narayanapura area of Dharwad City on Wednesday.

The apartment belongs to an accountant employed with a private contracting firm, as reported by the returning officer of the Dharwad Lok Sabha constituency.

The seizure came following a tip-off about the storage of a substantial quantity of liquor in the said apartment.

In response to this information, a unit from the Excise department was dispatched to the location. However, contrary to the initial suspicion, no liquor was found. Instead, piles of cash totaling Rs 17,98,03,100 were discovered hidden in the apartment.

Upon the discovery, the matter was immediately reported to the income tax authorities. It took two counting machines and several hours to tally the massive sum of money. The Income Tax department has taken control of the seized amount for further investigation.

An official statement indicated that an investigation has been launched against the apartment owner to determine the source and legality of the seized funds. Further action will be taken as deemed necessary by the Income Tax department.

The incident underscores the importance of vigilance and transparency in monitoring financial transactions, especially during sensitive periods like elections, to uphold the integrity of the electoral process.