Padra Choksi Bazaar was closed instantly after the team of Excise department went to a jeweller showroom and asked him to ready to show the stock to them till evening. After the news spread the jewellers down their shutters and the Choksi Bazaar was shut down completely.
According to the details after the government decision to withdraw 500 and 1000 rupees currency from 8th November Tuesday midnight people rushed to the jewellers market in Padra to turn their black money into gold. According to the sources the Excise department has the perfect information about the change of black money into gold on a big scale.
A team of Excise department reached Padra Choksi bazaar on Saturday and went to Haribhai Mathurbhai Bhavsar a well known jeweller showroom. As the news spread about the visit of Excise team one by one the shops were closed and the market was closed down and the jewellers start gathering.
According to the sources the Excise team instruct Haribhai Bhavsar to come to the Excise office till evening and produce the gold and silver jewellery stock from 8th November, bills of the jewellery sold and footage of the installed CCTV inside the showroom.
It was said that on Friday a news of Income Tax search inside the Padra Choksi Bazaar was spread which later turned out to be hoax and the jewellers sigh a relief later. However on Saturday the market opened but after the news of Excise department team visit to a popular jeweller spread the market shut down immediately before the people arrived to buy jewellery in this marriage season.
It was known that after the decision to withdraw 500 and 1000 rs currency from the market people purchased jewellery from the showrooms to turned their black money into white. In the last three days IT department start survey in the big jewellery showrooms and jewellers in Vadodara and asked for bills, stocks and other details.
As the marriage season is almost started and after the survey by the IT and Excise department the jewellers are in frightened to open their showroom. This affect their business as the sale is at its peak during the marriage season.