Indore: Jewellery worth Rs 1 cr of Zoom Realty dir’s wife to go under hammer

Indore: After Zoom Realty Projects boss Vijay Chouhdary, an accused in the Rs 2600 crore bank loan scam, income tax department has initiated action against his wife Manjaree Choudhary as the department is going to auction her diamond embedded 1,131 gram jewellery worth more than Rs 1 crore to recover the tax dues pending for years.

Manjaree Choudhary is also a director in Zoom Realty Projects which has executed multiple real estate projects in the city.
About a decade ago in 2009, the I-T department had carried out a nationwide search operation in several company properties located in different cities including Indore and Mumbai from where, apart from crucial documents the department had seized a large amount of cash and gold and diamond jewellery weighing 1131.84 gram in total.

Owing to failure in paying the income tax liability raised, income tax recovery officer (assessment)-2 of chief commissioner of income tax Indore region will be auctioning the precious jewellery on March 28 at Aaykar Bhawan in city to recover the dues.

According to sources, the reserve price for the jewellery is kept at Rs 1,00,52,492. Those who wish to participate in the auction will have to deposit Rs 1 lakh as security deposit to the recovery officer (assessment)-2 of CC I-T Indore region, informed the sources.

Notably, after being on the run for quite a long period in the bank loan scam, officers of the enforcement directorate (ED) Indore had arrested the Vijay from outside the CBI office in Mumbai on May 3, 2017 under Prevention of Money Laundering Act (PMLA).

He allegedly took the loans from IDBI bank Indore and Punjab National Bank. Following ED custody, PMLA designated court had sent him to Central Jail in the city. However, Vijay is now in custody of CBI which was the first to register a case against him in the bank loan fraud.

In this matter, Free Press though tried repeatedly, failed to contact chief commissioner of income tax, Indore region to collect his comment on the matter.

However, CC I-T Indore is reportedly going to act further tough against chronic tax defaulters very soon. Last month it had arrested a big tax defaulter from Khandwa and even succeeded in releasing red corner notice against another tax defaulter to stop his flying abroad, who resultantly returned to India from Dubai and have been staying in the country since then.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal