Summary:
It is suspected that they may have used other persons’ accounts for the purpose. “They would provide ‘profit’ or ‘loss’ on demand to individuals and firms to show on their stock trading. We have also got evidence of fixed -deposit receipts and National Savings Certificates (NSC) worth about Rs 70 lakh,” said an I-T official. It took more than five hours for multiple teams of bank officials to count the cash,” said a senior I-T department official.Officials said the two stock traders, identified as ‘entry providers’ in market jargon, are not related. Their earlier stock market transactions will also be scrutinized.Six locations searched“Search and survey operations were carried out at three locations for each of the accused..