Madhya Pradesh: I-T Sleuths Seize Cash, Gold, Diamond Worth Rs 25 Cr From Hundi, Hawala Trade Firms In Indore

Madhya Pradesh: I-T Sleuths Seize Cash, Gold, Diamond Worth Rs 25 Cr From Hundi, Hawala Trade Firms In Indore

The seizure includes 16 kg gold worth over Rs 11.84 cr , 8.5 crore cash and other valuables. The actions were conducted on firms engaged in hundi (cash loan), hawala trade and daal mill business

MANISH UPADHYAYUpdated: Saturday, June 01, 2024, 01:01 AM IST
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Indore Income Tax Department Office |

Indore (Madhya Pradesh): Indore-based wing of Income Tax department seized cash, gold and other valuables worth Rs 25 crore in three action carried out simultaneously in Indore, Ratlam and Khargone. The items seized include Rs 8.5 crore cash, 16-kg gold worth Rs 11.84 crore and other valuable items and diamonds. The actions were conducted on firms engaged in hundi (cash loan), hawala trade and daal mill business.

While the country was busy in deciphering political arithmetic of Lok Sabha elections, I-T sleuths launched three simultaneous actions on last Wednesday. The action concluded on Friday evening.

Sources told Free Press, 'In Indore, action was initiated against Kataria Finance operated by Dilsukh Kataria and his three brothers from offices in Janki Nagar and Noulakha.'

'Kataria brothers are regarded as the biggest 'hundi' (cash loan) operators of the region. The sleuths seized Rs 5 crore in cash, 13-kg gold worth Rs 9.32 crore and other valuable items. These items were concealed in a cavity in the wash area', said sources.

In Khargone, I-T sleuths targeted RM Daal Mill owned by Mahajan family on Bistan Road. Here, cash worth Rs 1.4 crore and 2-kg gold jewellery worth Rs 1.48 crore were seized.

Infamous hawala operator of Ratlam in I-T net

Biggest hawala operator of Ratlam Manish Patwa was trapped in I-T net on last Wednesday. He had come under I-T radar in the past too but no seizures could be made. This time, however, I-T sleuths acted on specific intelligence to seize cash and crucial documents from a secret cavity on the side of wash basin. Rs 1.7 crore cash and significant documents are seized from his premises.

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