Indore: 4 offices of Tinu Sanghvi,  Mantri's placed under PO

Search ends on day 5, Total 9.5 cr. cash seized

Staff ReporterUpdated: Thursday, October 20, 2022, 03:39 PM IST
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FP NEWS SERVICE

Indore (Madhya Pradesh): The Income Tax Department's search operations against builders’ groups Vastu, Shubham and Laabham concluded on the fifth day on Wednesday with the seizure of a total of Rs 9.5 crore and four offices of these groups placed under Prohibitory Orders (PO) for 60 days. 

The search action was launched on Saturday against the promoters of the Vastu Group Tinu allies Bhupesh Sanghvi, Shubham Group’s Sumit and Satyanaranayn (Pappu) Mantri and Laabham Group’s Mangal Mantri. Sources informed that the action concluded at all 28 locations on late Wednesday night.Under the PO these offices will be sealed and officers of the Investigation Wing may reopen the offices and resume the investigation. 

During the operation, the sleuths of the Income Tax Department have been able to find out concealed lockers in residences and offices. A sum of Rs 9.5 cr in cash has been recovered along with a documentary trail of jewellery worth Rs 17.5 cr including jewellery that has been seized. Electronic evidence of over Rs 120 crore land deals in cash has also been found.

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