BHOPAL: About Rs 7.5 crore were recovered in cash from a soya plant owned by the Congress MLA and businessman Nilay Daga by income tax sleuths on Sunday. The teams have also zeroed in on Rs 200 crore investments in shell companies by Daga brothers. The I-T raids were conducted on business establishments and residential premises owned by Daga brothers. The raids that started on Thursday took four days to complete the operations and concluded on Sunday. Sources from the I-T department said that the cash amount of Rs 7.5 crore was found from one of his soya plants.
The initial investigations also suggest that an estimated Rs 200 crore were invested in various shell companies by Daga brothers. The amount is expected to increase during further investigations. Sources said that about half a dozen shell companies have come to the fore through which Daga and his firms used to evade taxes and make manipulations in the unaccounted money earned from his businesses. The income-tax sleuths had raided twenty business and residential premises of Congress legislator Nilay Daga and his brothers on Thursday. Daga family runs businesses worth Rs 1000 crores oil, share market and school.
