Indore (Madhya Pradesh): The income tax department launched a mega search operation on leading real estate player BCM Group and its associates on Thursday. The action is being carried out at 50 locations spread in the city, Mumbai and Bengaluru.
The first-ever mega search of the year is being conducted by the sleuths of the investigation wing of the department. BCM group came into the limelight a few days ago during the inauguration of Kokilaben Dhirubhai Ambani Hospital as BCM is a partner at the hospital. According to sources, the action is being carried out at the residence of the Mehtas, proprietors of BCM group, located at Shantiniketan, BCM Business Park, Hotel Sheraton and some offices located in its buildings. The group is also involved in FMCG and other businesses including hotels, real estate, education and the health sector.
In the city, the action is being carried out at more than 25 places belonging to BCM group director Rajesh Mehta and his family members.
The search operations are going on at the offices of brokers associated with the real estate projects of BCM group, namely - Manoj Laddha, Lakhotia, Umesh Demla, Sunil Jain and some others. Police have been deployed at all these places.
BCM group has two luxury hotels in the city and Surat named Sheraton. According to initial reports, they found evidence of several bogus transactions.
