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An employee poses with the bundles of banned Rs 1,000 rupee Indian rupee notes [Representational Image].Reuters file

Local police in Delhi raided a law firm in South Delhi's Greater Kailash-I area and recovered cash worth Rs 13 crore. Of the amount of money recovered, Rs 2.5 crore was found to be in new currency notes. 

The money was hidden in cupboards and suitcases. "Rs 13.56 crore was recovered. Out of which, Rs 2.5 crore was in new currency notes and the rest in old notes. The IT department has been informed," an officer was quoted as saying by NDTV. He further said that the raid was conducted at about 10:30 a.m. on Saturday, at the T&T law firm. 

The police officer quoted by the publication said most of the rooms were locked and only a caretaker was present at the time of the investigation. The police are still searching for the promoter of the firm and have said that more raids will be conducted in connection with this case.

Recent other cases 

Ever since Prime Minister Narendra Modi on November 8 announced the banning of Rs 500 and Rs 1000 denomination notes across the country, there have been several cases of IT department seizing cash running into lakhs of rupees at various locations across India. 

The IT department busted a money exchange racket in Chennai that involved three persons, including an industrialist. The seizures included old (demonetised) and new (Rs 2,000) currency notes worth about Rs 90 lakh and 100 kg of gold.

The income tax raids were conducted at eight locations in Chennai. 

Last month, demonetised currency notes worth Rs 62 lakh was seized from a passenger at a Kozhikode bus stand on Tuesday, bringing the total seizure of such bank notes to Rs 87 lakh till now. In another incident, the Hyderabad police on Monday seized Rs 20 lakh from a van in Yacharam in Ranga Reddy district during a routine check. Yacharam police station inspector J Madan Mohan Reddy told PTI that Rs 500 and Rs 1,000 notes were found hidden in a milk van.

Border Security Force (BSF) officials on November 14 had seized Rs 5 lakh worth unaccounted notes of Rs 500 and Rs 1,000 from a person travelling in a bus in Chhattisgarh's Kanker district.