As soon as the demonetization announcement came from the Prime Minister Narendra Modi on 8th November, many top businessmen, politicians, cinema industry people and even All India Services officers have reportedly purchased high amounts of gold to safeguard their unaccounted money.
As per the data unearthed by the tax officials, as much Rs 470 Cr gold business happened in Hyderabad in just 24 hours, from 8th to 9th night of November. A bill had generated every five seconds, and every bill was in the range of Rs 1.90-1.99 lakhs. A star Tollywood hero’s wife has also bought gold worth Rs 25 Cr on that fateful night, say reports.
Although the owners of these gold shops had initially refused to divulge the names of the people who made hefty purchases that day, they reluctantly revealed a few names after they were threatened of CBI enquiry.
