IT raids at road contractor’s premises in Bhopal lead to Rs 1.7 crore unaccounted cash, Rs 70 lakh jewellery

The ongoing searches at the premises of the prominent road contractor have also led to the recovery of precious jewellery worth around Rs 70 lakh.

Published: 20th February 2019 12:25 AM  |   Last Updated: 20th February 2019 03:01 PM   |  A+A-

Money

Image of Rs 2000 note bundles used for representation purpose. (Photo | ENS)

By Express News Service

BHOPAL: Income Tax department raids which started at three premises of a prominent road contractor and business associates in Madhya Pradesh capital Bhopal on Tuesday have led to the seizure of Rs 1.7 crore unaccounted cash – perhaps the biggest seizure of unaccounted cash in a single day by the IT sleuths anywhere in the state.

The ongoing searches at the premises of the prominent road contractor have also led to the recovery of precious jewellery worth around Rs 70 lakh.

According to sources privy to the ongoing IT department search at three premises of the contractor (who in the past has been associated with major road projects of the state government) started early on Tuesday.

The search at his residence alone led to Rs one crore unaccounted cash and during the raid the IT sleuths came to know about the contractor having five lockers at a nationalized bank branch in Bhopal’s TT Nagar area.

Subsequent search of the lockers at the bank led to IT department team to a locker stuffed with Rs 70 lakh cash. Remaining four lockers will be opened and searched on Wednesday.

The search and survey at the contractor’s premises and premises of an associated construction company on the first day only, could lead the department to undisclosed income worth around Rs 20 crores. 

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