Indore: Income-Tax sleuths launched a country-wide search and survey action against city-based real estate sector player Empire Group on Wednesday. The action began at 46 locations, including 27 in the city and 19 in Mumbai, Delhi, Kolkata and Bengaluru. The sleuths also seized Rs 2 crore cash.
Around 175 sleuths of the I-T department with the help of 85 police personnel launched the first massive search-cum-survey action of the New Year 2020 against the Empire Group. The group is owned by Vijay Agrawal, considered one of the biggest players of the real estate in the state.
Sources said that few other associates of Agrawal were also under the action. These include Arun Goyal, Shyam Goyal, Dr. Gokuldas and Kalyan Tolls. The associates are facing the survey action.
In the city, Manishpuri, Baikuntha Dhaam Colony, New Palasia, Rani Sati Gate, Race Course Road and Siyaganj are prominent locations where search and survey actions were launched simultaneously in the morning.
Income Tax sleuths were tipped off about large amount of black money is being used in the real estate projects of Vijay Agrawal and its associates, who are relatives too.
Agrawal family initially ventured into the business of selling commonly used grocery and religious commodities in Siyaganj from a shop named as Anant Upyogi Vastu Bhandar. Later Vijay diversified the family business into real estate sector and formed a real estate company Lord Anand Developers Private Limited under the brand name Empire Group. The group is mainly executing projects of Bypass and Ring Road in the city.
Later it expanded the business to other cities like Mumbai, Delhi, Kolkata, New Delhi and Bengaluru. The sources said that the action is likely to continue next two more days.
Group’s project in city
* Empire Residency in Indore
* Empire Estate in Indore
* Empire Victoria Park in Indore
* Empire Heritage in Indore