The recent I-T raids on residential and business premises of BJP leader Sushil Vaswani and his kin in Bhopal have revealed that the family’s estimated business interests could go up to Rs 100 crore.
The search could also see some more close associates of the family come under the taxman’s radar.
“The biggest gain from the nearly weeklong exercise has been seizure of several incriminating documents, which could throw shockers in the coming days,” said a senior IT department official on Tuesday.
The exercise has led the investigating teams to several hundred accounts at Vaswani-founded Mahanagar Nagrik Sahkari Bank, where abnormal transactions have been recorded since demonetization.
The IT department will shortly start sending notices to the account holders to ascertain the source of money which was parked in these accounts.
The cooperative bank in Bairgarh, founded by Vaswani in 1992 and headed by Vaswani’s wife Kiran at present, also has MP revenue minister Umashankar Gupta as its board director.
Rs 16 lakh in new notes seized from trader
More than Rs 16-lakh in new currency was seized from a Sagar-based hardware trader in Bhopal on Tuesday.
The seizure was made by the city police from India Mall in Indrapuri following specific information shared by the IT department.
The IT department has also initiated search at the business establishments of a jeweler-cum-petrol pump owner in Narsinghpur district on Tuesday.
The search was based on specific inputs about a businessman who is using his showroom and petrol pump to park and exchange the demonetized currency.