The Gujarat and Indore teams of income tax department's investigation wing carried out searches at 16 premises in Indore on Wednesday, revealing a trail of money laundering across 11 cities, including Indore, Bhopal, Surat, Delhi, Kolkata and Pune.
Additionally, surveys were carried out at five places in connection with the search. Eleven of the 16 places searched were residential properties.
The main search in Indore was carried out at the residential and business premises of Mohan Kumar Ludhiyani, who is involved in liquor trade, real estate business and packaging of tea leaves. His companies include Concorde Agro, Shruti Snacks, Digiana Real Estate Developers, Digiana Projects Ltd, Apollo Real Estate and Ghanshyam Das & Co among others.
The searches were carried out at Mohan Kumar's shop in Siyaganj, godown in Mangaliya and his residence in Khatiwala Tank. His other properties at Apollo Tower, South Tukoganj, Bicholi Mardana and RS Bhandari Marg were also searched and surveyed.
The I-T department also carried out a limited search on the premises owned by other businessmen in the city with whom Mohan Kumar had done financial transactions in the past, including Pankaj Bulani, Keshav Nachani, Nirmal Agarwal, Shashi Bhushan Khandelwal, Vijay Agarwal, Tejinder Pal Singh Ghumman and Vishnu Govindram Sharma.
This is the second search by the income tax department in the city in last one week. Last Friday, Indore region's investigation wing had carried out searches at Mittal Appliances Limited and Kalyan Toll Infrastructure Ltd, which together surrendered `103 crore in unaccounted incomes.
Also, on Tuesday, the Switzerland government named city-based textile group Neo Corp International Ltd in response to details sought by the Union government to crack down on black money stashed abroad.