Ranchi, Nov 24 (IANS): Income Tax (IT) sleuths seized Rs.100 crore deposited in bank accounts of a contractor, his family members and relatives in Jharkhand's coal city Dhanbad, sources said Thursday.

IT officials Wednesday started a raid at Lal Babu Singh's house at Jharia town of Dhanbad district, 240 km from here. The raids in Jharia and Dhanbad continued Thursday.

According to sources, the IT officials seized 13 accounts with deposits of nearly Rs.100 crore in the name of Singh, his family members or relatives in the Ana branch of the Bank of India at Dhanbad. The total deposits of the contractor in the bank are Rs.150 crore.

The raid is being conducted under the supervision of Additional Director of IT investigation Ajit Srivastav.

Singh supplies materials to Bharat Coking Coal Limited (BCCL). He amassed wealth in connivance with BCCL officials, the sources said.

Singh became a billionaire in 12 to 13 years after he started supplying materials to BCCL. He is originally a resident of Balia district of Uttar Pradesh and arrived in the coal city 14 years ago. His three brothers also work as contractors in the area.

A large chunk of money was deposited in the last one year in the bank. IT officials are also investigating the role of bank officials.

The IT officials were surprised to find Rs.15 crore transactions in the bank account of Singh's driver.