Bangalore, Dec. 3: The income tax department that found Rs 5.7 crore in new 2,000-rupee notes in raids on the premises of two Karnataka government engineers and two contractors is likely to hand over the case to the CBI. Likewise, Sibi Chakravarthy and Ramalingam, the two contractors believed to be their close associates, were also questioned. "In such cases the income tax department hands over further investigation to the CBI, which then prepares the chargesheet and begins prosecution of the alleged," a source said. "This case can be handed over to the local police but usually the income tax department brings in the CBI." The tax department said the "total admission of unaccounted income in the group stands at Rs 152 crore".

Source: The Telegraph December 03, 2016 21:08 UTC