The search carried out by investigation wing of income tax department at 37 locations of MP Agro Industries, MP Agro Nutri Foods, MP Agrotonics, Indo Den Food, Shri Krishna Devcon Limited, (SKDL),Global Group and their allied companies continued for second consecutive day on Wednesday.
Of the total, 27 premises are located in Indore and surrounding areas while five each are in Bhopal and Mumbai.
The investigation wing has confiscated Rs 35 lakh of unaccounted cash, 26 computers and laptops and sealed their 12 lockers.
Sunil Jain, Mukesh Jain are directors in MP Agro Nutri Foods, I-T sources said. Avadhesh Dixit heads Global Group which deals in real estate. Avadhesh and his journalist-brother Hradayesh Dixit are also associated with MP Agro Nutri Foods. MP State Industrial Development Corporation holds 30% stake in MP Agro Nutri Foods.
Shri Krishna Devcon Limited, (SKDL) is a real estate firm, in which Manish Bansal and his family are directors. Bansals also have stakes in Somway Mega Township built in Simrol.
All the three families and the companies they run have close financial ties, documents accessed by income tax department revealed. Together, the three families are into three types of businesses. Besides supplying cereals to anganwadis and developing real estate projects, they have entered into renewable energy sector.
“They have sent up windmills around Indore district to seek income tax exemption. Focus of our search is to recover incriminating documents from their premises to prepare base for future investigations,” a senior I-T official said wishing anonymity.
Seized documents show proofs of hawala transactions and dormant companies
The documents confiscated from their premises show proofs of hawala transactions and dormant companies whose bank accounts and books of accounts were used for money laundering. The account books show inflated or bogus expenses.
Top film stars attended party hosted by Dixits
The department is also tracing financial ties Dixits have with Bollywood. In March this year, they hosted a grand party at their palatial farmhouse in which top Indian film stars including Anil Kapoor, Shilpa Shetty, ex-cricketer Ajay Jadeja, Congress party leader Rajiv Shukla were present.
The investigation wing has contacted police to seek information about Hradayesh Dixit who is charged with grabbing plots in Multan Co-operative Housing Society land located opposite Gangwal bus stand. “Besides, we’re tracing whether they have invested money in overseas tax havens,” department official said.
When contacted, journalist Hradayesh Dixit said, “Don’t know, why my name is dragged as I pay taxes. I have objected it before income tax department.” An SKDL employee, who admitted that search was on in their premises, said his bosses are unable to take calls as search teams have taken their mobile phones.