A bust by Noida Police earlier this week has led to the recovery of Rs 4 crore from Noida, Delhi and Lucknow, said sources on Tuesday.
A Delhi-based Dhingra Properties is under the scanner for running a fraudulent scheme.
In the ongoing searches being carried out by Uttar Pradesh Police and Income Tax Department, total cash amounting to Rs 4 crore has been seized so far.
Earlier this week, three vehicles were stopped in Sector 58 by Noida Police and eight persons were arrested after Rs 2 crore were seized from the cars.
According to sources on Tuesday, a bust by the Noida Police earlier this week resulted in the recovery of Rs 4 crore from Noida, Delhi, and Lucknow.
Dhingra Properties, a business based in Delhi, is being probed for running a fraudulent scheme.
Up to this point, cash totaling Rs 4 crore has been confiscated during ongoing searches by the Income Tax Department and Uttar Pradesh Police.
The Noida Police intercepted three vehicles in Sector 58 earlier this week, and after seizing $2 million worth of goods from the vehicles, eight people were taken into custody.
The individuals detained were identified as being from Ahmedabad as Jayanti Bhai, Delhi as Sandip Sharma, Delhi as Vinay Kumar, Delhi as Abhijeet Hazra, Noida as Noida Sector-56 as Rohit Jain, Delhi as Vipul, Mumbai as Minesh Shah, and Indore as Anuj.
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The police stormed a home in Sector 36 after receiving another tip, seizing an additional Rs 1.67 crore. Greater Kailash, Karol Bagh, and Luknow in Delhi have all been searched by a combined police and IT team.
According to reports, the Delhi-based Dhingra Properties is being investigated by the authorities for its involvement in shady business practises. It recently introduced a “2+ 1” scheme in which an investor would receive a return on a minimum investment of Rs. of Rs 1.5 crore.
The police is still carrying out searches across Noida, Delhi and Lucknow.
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