Store managers' houses searched in Andhra Pradesh

VIJAYAWADA: With searches likely to continue for another day or two, Joyalukkas' showrooms were closed at Vijayawada, Visakhapatnam, Rajahmundry, Kakinada, Guntur, Nellore, Tirupati, Eluru and other places in Andhra Pradesh.
Houses of store managers were also searched by the IT sleuths and crucial documents seized. As many as 15 teams, each comprising eight officials, were formed to conduct the searches.
An official also hinted at a demonetisation angle. "We identified abnormal amounts of cash deposits during demonetisation especially on Novembers 8, 9 and 10 in 2016," the official said. This however has not been confirmed. As record books are not maintained branch-wise, a consolidated audit has to be done after the entire stock-taking process is completed and after the sales books are verified.

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