Kolkata: Police have seized nearly Rs 1.77 crore in cash from a locked room of a private school in Kanchrapara in North 24 Parganas district of West Bengal and detained the institution's accountant for questioning, a senior officer said on Thursday.
The recovery was made following an overnight search operation conducted by police on the basis of specific intelligence inputs, he said.
"The cash has been seized, and an investigation is underway to ascertain its source. We are examining documents and questioning those connected with the institution," the police officer said.
Accountant Abhik Kumar Nag has been detained and is being questioned about the source of the cash and the circumstances under which such a large amount was being kept inside the school premises, he said.
A written complaint has been lodged against four people (Kamal Adhikari, Gautam Ghoshdastidar, Abhik Kumar Nag and Sayan Nag), he said, adding that the complaint includes allegations of financial irregularities and cheating.
Adhikari is the chairman of Kanchrapara Municipality and the brother of former Bijpur MLA Subodh Adhikari.
Eight packets containing cash were recovered from the locked room during the raid. Three counting machines were brought to the school during the night, and the counting process continued till early Thursday morning.
The detained accountant has so far failed to provide a satisfactory explanation for the origin of the money or why it was stored in a locked room rather than deposited in a bank, he said.
School principal Bikash Chandra Pal, however, claimed the money belonged to the institution and had been collected through admission-related fees.
"The amount comprises admission fees collected by the school. The accountant kept the money on the premises instead of depositing it in the bank," Pal told reporters.
Asked why such a substantial amount was not deposited in a bank, the principal said he was unaware of the reasons and claimed the matter had taken place without his knowledge.
Police said they are verifying the school's records and financial documents to determine whether the cash corresponds with officially recorded transactions.
This report was published from a wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.