The unaccounted assets of Agro Industries, MP Agro Nutri Foods, MP Agrotonics, Shri Krishna Devcon Limited (SKDL), Global Group and their allied companies is likely to touch Rs 300 crore, documents accessed by income department’s investigation wing have revealed.
The department carried out searches on the companies’ 37 premises in Indore, Bhopal and Mumbai from July 12 to 15 and seized documents that indicated hawala transactions and dormant companies whose bank accounts and books of accounts were used for money laundering.
“Their unaccounted wealth could touch Rs 300 crore of which tax evasion could be Rs 100 crore,” a department official said wishing anonymity.
Companies have surrendered unaccounted income of Rs 50 crore so far
The companies’ owners have surrendered unaccounted income of Rs 50 crore so far.
Department officials said it would take them two months to scrutinise all documents and place concrete evidence of total unaccounted wealth before the owners.
The investigation wing has confiscated Rs 35 lakh of unaccounted cash, 26 computers and laptops and sealed their 12 lockers so far.
SKDL and Global Group deal in real estate.
The department has issued prohibitory orders for office of MP Agro Industries, MP Agrotonics in Bhopal and Global Group office at Bhakt Prahlad Nagar in Indore.
As part of the order, the department has sealed office and suspended search operation only to continue it after a few days as it expects to dig in more information from three offices to corroborate evidence of unaccounted wealth.
Madhya Pradesh State Industrial Development Corporation holds 30% stake in MP Agro Industries, MP Agro Nutri Foods, MP Agrotonics which supply ‘daliya’ (broken wheat) to state government for anganwadis.
The investigation wing plans to write to the state government seeking details about payments made to MP Agro Industries, MP Agro Nutri Foods, MP Agrotonics.
“We wish to know how much payment the government made to three companies on different dates and how much cereals it received from them in the last seven years,” a department official said.
Payment to film stars
The investigation wing has come across SMSs that show Global Group head Avadhesh Dixit and his journalist-brother Hyadayesh Dixit have made cash payment from Rs 2 lakh to Rs 10 lakh to film stars. The SMSs show conversation between agent and Dixits and between agent and film industry artiste over payment. As reported earlier, Dixits threw a party at their farmhouse in March where top Bollywood stars were present.