New Delhi: The mystery over Rs 570 crore seized by the Election Commission (EC) in Tamil Nadu was solved after State Bank of India (SBI) claimed that the cash belongs to them and they have all necessary approvals from the RBI.
A statement issued by the SBI reads, "In order to address a temporary cash shortage in the state of Andhra Pradesh, RBI as per their currency management policy authorised transfer of Rs 570 crores from currency chest at SBI Coimbatore main branch to SBI special currency administration branch Visakhapatnam."
It further reads, "The convoy carrying the treasure was stopped enroute and brought to Tiruppur Collectorate for further scrutiny. SBI authorities at Chennai, Coimbatore and Tiruppur are providing all support and clarifications to the authorities and are hopeful of quick resolution and release of treasure. We reiterate once again this movement of currency is duly authorised by RBI and has all necessary approvals."
The EC on Friday said Rs 570 crore, seized from three containers in Tamil Nadu two days ahead of assembly polls there, is "prima facie suspect cash" as no agency or organisation has come forward to claim it.
The cash was seized despite the occupants of the vehicles claimed was for inter-bank money transfer.
All agencies, including the Income Tax Department, have been asked to ensure a proper investigation in to the matter, an Election Commission official said here.
While the matter was being investigated, SBI came forward to claim for the money.
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