A Delhi-based businessman has surrendered Rs 73 crore to the income-tax (I-T) department on Friday and has also disclosed details of his bank accounts and lockers in banks in the Switzerland, US and Singapore.
The directorate of criminal investigation (DCI) - the newly created investigation wing within the central board of direct taxes (CBDT) to deal with high profile cases - had conducted searches at house and office premises of Satish Swahney at Sainik Farms and South Extension-I in New Delhi on Thursday afternoon, which concluded on Friday.
"After receiving specific tip-off, DCI raided the premises and he has surrendered Rs 73 crore to the department," a senior official said.
According to department sources, Swahney, who is into energy consultancy in India and abroad, has five bank accounts abroad - one each in Zurich, Singapore and three in the US. In addition, the I-T officials have also found eight big lockers in three Delhi banks.
"The search team has recovered jewellery worth Rs 1.5 crore and Rs 18 lakh in cash from Swahney, and he has eight accounts in HDFC, ICICI Bank and State Bank of India in Delhi, which have now been sealed," the source said.
Though no big name has apparently been found to be linked with Sawhney, the DCI has reportedly kept a few politicians under its scanner. "No big names have been found attached to this case at present and we believe the businessman is a high-end hawala dealer, but we're probing the documents related to foreign banks recovered by us," the official said.