NEW DELHI: On a trail of a jeweller who allegedly sold bullion worth Rs 600 crore, the Income Tax Department today unearthed Rs 60 crore from the accounts of 20 shell companies in a raid at an Axis bank branch in sector 51 here.

A team of the department today raided the Axis bank branch here and searched the accounts.

In the search, Rs 60 crores were found in 20 accounts of as many shell companies, an official said, adding the IT team was scanning the records to trace the directors of these companies.

An IT team had earlier found that a jeweller here had sold gold bricks worth Rs 600 crore after demonetisation and has accounts in the same branch of the bank.

The jeweller's name has not been disclosed by the officials yet.