Rs 23 cr, 7 cars seized from VHP leader in Jaipur

Three steel trunks flung open reveal hundreds of bundles of notes. So many bundles that it's impossible to guess how much they add upto. Rs ten crores is what we're told. Stashed in one house. In steel trunks.

In pics

Even for a successful broker, Damodar Modi has a remarkable list of assets. Jewellery worth Rs 57 lakhs, four houses in Jaipur, seven luxury cars, all with the same license plate. Modi is also a senior leader of the Vishwa Hindu Parishad or VHP in Rasjasthan.

Through the day, VHP workers visited Modi's house to lend their support. They offer the theory that the income tax raids on Modi are a political conspiracy.

One says, "This is just a bad phase but it's also political. Since he has links with the BJP, and Rajasthan has a Congress government now, that's why these raids have happened."

Modi apparently liked spreading his wealth around. Mainly among his many selves. He had lockers in different names. "He has now admitted that he has nearly Rs 23 crore of unaccounted income and assets," confirms Sunil Verma, Income Tax Commissioner, Rajasthan.

Tax officials are now studying three diaries, maintained by Modi, for information on Hawala transactions.

This is the highest seizure ever in Rajasthan...and points to the growing nexus...between business, politics and black money... that's raised a parallel economy in the country.