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“Rs 58 cr cash, 32 kg gold, Rs 14 cr diamonds”: IT officials seizes assets worth ₹ 390 crore in Maharashtra’s Jalna

By Ruchi Upadhyay 
Updated Date

New Delhi: After ED, now the Income Tax Department is also seen in action. After West Bengal, there has been a plethora of notes in Maharashtra as well. In Maharashtra’s Jalna, the Income Tax Department has conducted raids at a steel, textile trader and real estate developer, in which the department has found a large amount of benami properties. Income Tax has found 58 crore cash, 32 kg gold, diamond pearls and many property papers.

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IT sources said that they got Rs 58 crore from the farmhouse and bank locker during the raids. Sources said that Rs 28 crore has been received from the cash farmhouse while Rs 30 crore has been received from the bank locker. The money that has been seized has been found from the premises of a local money lender. This information was received during the raid. The raids took place at Shri Ram Steel, Kalika Steel, a co-operating bank financier Vimal Raj Bora and dealer Pradeep Bora.

The raids were launched last week on the business entity based in Jalna district after actionable inputs of alleged tax evasion were received against it, officials added.

The raids were conducted on several companies- SR Steel, Kalika Steel, One Co-operative Bank, Financier Vimal Raj Bora and Dealer Pradeep Bora etc.

More than 120 vehicles were used in which the teams of officials were divided into five during raid. 260 officials of I-T dept (Nashik branch) were involved in the raid.

Also Read :- Taxmen raid 23 premises of a Gujarat diamond firm in multi-crore fraud

The raids were conducted between August 1 to August 8 at the residential and official premises linked to two business groups dealing in steel, clothing, and real estate.

The source said that the cash recovered from the premises of garments and steel businessman was taken to Nasik branch of State Bank of India, where it was counted for hours. The bank employees started counting the cash at around 11 a.m., which went on till 1 a.m.

The I-T department got the tip-off that there were irregularities in the accounts of four steel companies after which the teams swung into action.

The cash found in this raid has been counted by taking it to the State Bank of Jalna. The counting of cash started at 11 am which lasted till 1 pm. The Income Tax Department had received information that there is irregularity in the behavior of 4 steel companies of Jalna. After this the department came into action and raided it. Nothing was found at the house in this raid, but cash was recovered from a farmhouse outside the city.

Also Read :- I-T dept raids premises of two Chennai financing groups: CBDT
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