I-T dept freezes deposits worth ₹53 crore of Maharashtra-based urban cooperative bank
The Hindu
The department raided the headquarters of the bank and the residence of its chairman and a director on October 27.
Nov 6 (PTI) The Income Tax Department has frozen deposits worth over ₹53 crore of an urban credit cooperative bank in Maharashtra after it found "glaring irregularities" in the opening of accounts in a recent raid, the CBDT said on Saturday.
The department raided the headquarters of the bank and the residence of its chairman and a director on October 27, it said.
"The analysis of bank data on core banking solutions (CBS) and the statements of key persons recorded during the search action have revealed glaring irregularities in opening the bank accounts.”
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