I-T uncovers Rs 1.29 lakh cr overseas remittances trail; money sent to China, UAE & more

The probe comes as the rupee remains under significant pressure. The Reserve Bank of India has been regularly selling dollars in the foreign exchange market to contain volatility and prevent sharp, disorderly movements in the currency.

Twisha Sharma had a demat account containing equity investments with a market value of approximately Rs 20 lakh. After accused Samarth Singh and his mother Giribala Singh came to know about this, they allegedly pressured her to transfer the money.