The Enforcement Directorate (ED) has seized cash worth around Rs 100 crore in the last three months. As of now, more than Rs 17 crore in cash has been recovered from the residence of a Kolkata-based businessman in a fraud case related to mobile gaming application. A machine was installed by the ED officials to count the cash recovered and eight bank officials were called. The question is arising about this cash, what will be done with it?
Earlier, Rs 50 crore in cash was recovered from the apartment of Arpita Mukherjee, an aide of suspended minister Partha Chatterjee in connection with the West Bengal teacher recruitment scam, according to an India Today report. According to ED officials, this was the biggest seizure of cash in the history of the country. Partha Chatterjee is involved in the alleged recruitment scam of Group ‘C’ and ‘D’ employees, assistant teachers of classes IX-XII and primary teachers. Officials suspect that the amount recovered was collected through teacher recruitment scam.
Bank workers were tired of counting notes
Counting of cash went on for about 24 hours. The situation had become such that the bank officials were tired of counting the recovered notes like mountains. Earlier, ED officials had seized cash worth over Rs 20 crore in the Jharkhand mining scam. Apart from the said seizure, the agency has also recovered small sums of money in several other raids.
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What happens to the cash recovered by the ED?
We are also going to give you the answer to that question, what is done with the cash recovered by the last ED. It also has a protocol. Whenever cash is recovered from anywhere, it is counted first. Usually this count is done by the employees of the bank. Which notes and their number are also recorded during counting. After this, it is filled in the box and sealed and deposited in the branch of State Bank of India. Now what happens to these deposited money is also a different process.
Opportunities are available to give information related to money
After the seizure of cash, the investigating agency gives the person full opportunity to give information about the source of the money. If the investigation agency is satisfied with the question regarding the seized cash, it is fine, otherwise the confiscated cash will be treated as wrongly earned money. All this happens under the supervision of the court. The Court is also satisfied with the answer and finds the cash correct, then decides to return it. The cash recovered is then returned to the person from whose locations it was recovered. If the person in front is not able to give information about the source of income, then this money goes to the central government treasury.