Kolkata, 01 April (H.S.): In a major operation, the Income Tax Department seized foreign currency worth approximately ₹4.54 crore in Kolkata and detained three persons for questioning, officials said on Wednesday.

According to official sources, the operation was carried out during a raid in the Park Street police station area following a specific intelligence input. During the search, officials recovered 475,000 US dollars and 300,000 Thai Baht. The total value of the seized foreign currency has been estimated at ₹4,54,82,500 in Indian currency.

Investigating officials said the three detained individuals failed to produce satisfactory documents to justify possession of such a large amount of foreign currency. Subsequently, the department initiated proceedings as per rules and took them into custody for further questioning.

The department is now probing the source of the foreign currency and the purpose for which it was intended to be used.

Notably, ahead of the Assembly elections, the Election Commission of India had held meetings with the Income Tax Department and other central investigative agencies, directing them to maintain strict surveillance on suspicious financial transactions and the movement of unaccounted money.

Since then, both central and state agencies have remained on high alert. The recovery of such a large amount of foreign currency from a prime locality in Kolkata just ahead of the Assembly polls is being seen as significant.

There have also been reports of large cash seizures by Election Commission teams during checkpoint inspections in different parts of the state as part of intensified monitoring during the election process.

Hindusthan Samachar / Satya Prakash Singh