Rs 4.7 crore cash in new denominations of Rs 2000 +BENGALURU: Karnataka government on Friday suspended two senior officials close to chief minister Siddaramaiah following Income Tax raids at their official residence that allegedly unearthed Rs 6 crore in cash disproportionate to their known sources of income, includingThe suspended officials are TN Chikkarayappa, managing director of Cauvery Neeravari Nigam, and SC Jayachandra, chief project officer of the State Highway Development Project, that functions under the Public Works Department (PWD).The suspension orders were issued after taking cognisance of the raids and finding their conduct contrary to the service rules, the sources said.It was the biggest seizure of cash in new currency post demonetisation . The Income Tax department officials continued the raid on Friday and seized another Rs 1.3 crore new currency notes.The total value of property confiscated from the duo during searches in a dozen premises in Bengaluru, Chennai and other locations has gone up to Rs 152 crore, IT official sources said.Officials said the searches were launched on the premises of four other people close to the two engineers, working with the state government, and some connected persons.The case may be handed over to enforcement directorate and the CBI soon on the direction from PMO office, officials sources added.

Source: Times of India December 02, 2016 11:38 UTC