The income tax department’s search and survey operation at the residences and business establishments linked to a ruling BJP leader and ex-chairman of Madhya Pradesh Sahkari Awas Sangh, Sushil Vaswani, in Bhopal, entered the second day on Wednesday.
While the survey was being conducted at Mahanagar Nagarik Sahkari Bank, Bairagarh, which was founded by Vaswani in 1992 and presently headed by his wife, the searches were underway at his kin’s residential and business premises, including an automobile showroom, an engineering firm and hotels in different parts of the state capital.
According to a senior I-T department official, the taxmen opened on Wednesday the eight bank lockers held by Vaswani and his family members in different banks, including State Bank of India, Punjab National Bank and Mahangar Nagarik Sahkari Bank.
“What tumbled out of the lockers could be known only after Wednesday late night,” the official added.
The survey has so far revealed that old currency notes worth several crores were deposited in the cooperative bank between November 9 and November 15.
The search and survey teams are zeroing in on 100-plus new accounts, which were opened after the November 8 demonetisation of the Rs 500 and Rs 1000 notes. “Also under the scanner are those accounts which have reported frequent transactions before the RBI directed the cooperative banks to stop accepting the demonetised currency notes on November 15,” said the official.
“We are trying to figure out the total volume of Rs 500 and Rs 1000 notes deposited in the bank since November 8, the sources from which the defunct notes emanated, and the possibility of this money being diverted to varied business interests of Vaswani family and their relatives,” the official added.
SLEUTHS SEARCH AXIS BANK RECORDS
The special investigation wing of income tax department from Jabalpur is conducting survey of the Axis Bank records in Katni. The team is probing the possibility of heavy sum of black money worth crores of having been parked by unscrupulous elements in the bank since demonetisation of the ₹500 and ₹1,000 notes. Under scanner is a possible nexus between a prominent politician of the area and some suspected hawala operators who are linked to mineral and coal mining, besides construction business.
The IT sleuths are probing the details of around 12 bogus accounts in the banks which were opened in the name of below poverty line (BPL) card holders in the previous years by showing them as heads of bogus companies. Subsequently, crores of rupees were parked in these accounts, before the money was diverted to some companies in Andhra Pradesh, Haryana, NCR and other states. HT had exclusive reported this alleged fraud in the past.