The cash was found in a car by a team of officials led by Block Development Officer Govindarajan when they were inspecting vehicles at Veerarakkiyam village.
"On questioning, the occupant of the car, a senior official of a textile retail chain, said it was being taken for procurement of apparel in Tirupur," Krishnarajapuram Thasildar P Veni told PTI.
However, as he could not produce supporting documents, the cash was seized and handed over to Income Tax authorities here. "Now, they have brought documents and claim that the money was for bonafide purposes. The tax authorities are scrutinising the claim," she said.
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