The team also seized Rs eight crore worth National Savings Certificate (NSC) bonds, Bellary Deputy Commissioner Amlan Aditya Biswas said. The cash was stored in two almirahs, he said.

Besides, Rs 20.30 lakh was confiscated from offices of the financier and Rs 4.30 lakh from his son's house, he said.

The officials have also taken control of a go-down belonging to the financier on the outskirts of Hospet town.

The Income Tax department has issued notice to the financier and a further probe is on.

Officials have also seized cash worth Rs 1.25 crore froma car in Hospet city in Bellary district.


Latest News from State News Desk