HC gives jeweller relief against arrest
Hyderabad: The Hyderabad High Court has directed the Income Tax and Enforcement Directorate not to effect any arrests till December 21 in connection with the on-going probe into the gold-for-cash scam in which the owners of a jewellery shop are allegedly involved in the wake of demonetization of big currency notes.
The owners of the jewellery shop had knocked the doors of the High Court by filing a petition to stall any arrests by the IT and ED authorities. The court, after hearing the arguments of the petitioners, had directed that no arrests should be made till December 21 and at the same time it asked the petitioners to appear before the IT and ED authorities whenever needed.
The IT and ED authorities informed the court that according to their preliminary inquiry it was found that the jeweller had transacted business with over 5000 people within four hours of the announcement of demonetization of big notes by the Prime Minister. As per the CCTV evidence, it was gathered that 65 people had bought gold worth Rs 75 crores. The amount was seized. -NSS