Bhopal: IT raids unearth huge 'benami' properties

BHOPAL: Raids conducted by the Income Tax Department on four advertisement and event management companies continued on Saturday. IT sleuths have unearthed documents related to benami properties in large numbers.

Initial findings and documents by IT teams have hinted that channeling of cash was done from one account to another and finally invested to buy properties. Most of these properties were bought on ‘others’ names. IT officials have also found evidences of cash dealings in buying of properties.

Documents related to property suggest that more than 50 properties around Bhopal and Raipur were bought during past five years. IT officials will grill the people on whose names it was bought besides calling the sellers for interrogation.

IT raids continued on Saturday on most of the premises of owners of the companies while it was winded up at some locations. Places where the raids were concluded on Saturday include people association with owners of these companies.

Cash of about one crore was also recovered on Saturday as well taking overall cash seizure to about two crores. Jewelry is being evaluated and its papers being verified, said an IT official.

About a dozen lockers that are in question will be opened after Monday. IT officials were present at office and residence of owners of Vyapak Enterprises Mukesh Shrivastava.

Similarly, scrutiny at office and residence of Sanjay Pragat also continued on Saturday. A premises related to Bhopal Glass and Tent Stores, Javed Ali were also being searched. Raids also continued at about three places in Raipur in offices and residence of Satya Narayan Agarwal owner of AS Enterprises.

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Free Press Journal