BENGALURU: Income Tax (I-T) department officials are now saying that the value of land holdings as per the discovery of various property files discovered in the three Bowring Institute lockers belonging to Avinash Amarlal Kukreja is over a whopping Rs 800 crore and not just Rs 550 crore. Sources said the value of the finds may rise further as calculations are being done, adding that estimates are being calculated by other agencies as well.
Besides, the sources said, following the find in the three Bowring Institute lockers, I-T officials have started probing into other clubs where Kukreja has membership and have begun targeting lockers in those clubs as well.
Late on Saturday, a team of I-T officials entered the premises of Bangalore Club on Lavelle Road — where Kukreja is also a member — and tried to open a locker marked against his name in the hope of finding more such documents and valuables stored. However, the club authorities denied them permission to open the locker in Kukreja’s absence, as per the club rules.
However, later they managed to open the locker in Kukreja’s presence but no details about the locker’s contents were given out.
On Friday, officials of the I-T and Enforcement Directorate (ED) opened bags found inside Kukreja’s three Bowring Institute lockers. They found cash worth about `3.90 crore, jewellery worth `7.80 crore, 650 gm of gold, a Rolex watch worth `15 lakh and a Peugeot watch worth `30-35 lakh inside them. The bags also contained six files pertaining to large property dealings, signed cheque leaves and a chequebook without any amounts mentioned.
I-T and ED officials seized the possessions and had also raided the residence and offices of Kukreja. The discovery took place following an exercise of freeing up lockers at Bowring Institute, where Kukreja is a member since 1993.
Sources said officials had also carried out checks at other offices and places connected to Kukreja. His father Amarlal Kukreja is among the top financiers in Bengaluru and the family owns a tyre showroom in Shanthinagar.
Disciplinary action against kukreja
Srikanth said Bowring Institute will initiate disciplinary action against Kukreja and he will be appearing before a disciplinary committee. Sources at the club believe it is almost certain that Kukreja’s membership will be terminated or suspended. The use of lockers at Bowring Institute is set to undergo a change.
“Now, we will install CCTV surveillance around the lockers and beef up security. Members will no longer be allowed to use their own locks, but can use only those that the club provides. Both the members and the institute will have keys to the lockers and the institute will be at a liberty to randomly check any locker,” Srikanth said.