I-T raids on premises of Bhopal biz groups
Income tax (I-T) raids on the premises of two business groups of Bhopal continued for the second day on Thursday. HT reports.bhopal Updated: Jun 22, 2012 00:37 IST
Income tax (I-T) raids on the premises of two business groups of Bhopal continued for the second day on Thursday.
On Day 1, I-T officials recovered Rs 5 crore cash and jewellery worth crores in the country-wide raid of the premises of influential builder Dilip Suryavanshi. Raids were also conducted at the Bhopal residence of another alleged power broker and businessman Sudhir Sharma.
Between the two, I-T sleuths raided 60 premises across India, including Bhopal.
Suryavanshi owns Dilip Buildcon Pvt Ltd which has major road construction contracts in Madhya Pradesh, Gujarat and Himachal Pradesh. He is known for his proximity to Madhya Pradesh chief minister Shivraj Singh Chauhan.
Sharma is the owner of mining company SR Ferro Alloys and state coordinator of BJP's education cell in Madhya Pradesh. Both Suryavanshi and Sharma own about a dozen companies each.
Members on the board of directors in their companies have also been covered under the raid.
The companies of Suryavanshi and Sharma came under the scanner when it was discovered that in the last few years their I-T returns had not been commensurate with their growing incomes, a senior Income Tax officer told Hindustan Times.
“Several incriminating documents of huge unaccounted investment in mining, real estate, land, stocks, hotels, apartments were found by the I-T teams conducting the raids,” he added.
While Sharma dismissed the raid as an act of political vendetta, Suryavanshi could not be contacted for comments.