The investigation wing of income tax department has seized large volume of documents from 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 situated in Indore, Barwah, Bhopal and Mumbai.
The search continued on their 15 premises for third consecutive day on Thursday. It ended on remaining premises by Thursday evening. The department has begun to record statements of company representatives and owners.
“We’ve confiscated documents in volumes. Some of them are incriminating indicating hawala transactions at significant level. We hope to unearth tax evasion which may run into crores,” a department official said wishing anonymity.
The investigation wing had recovered Rs 85 lakh from them during search out of which it confiscated Rs 35 lakh in addition to 26 computers and laptops and 14 mobile handsets. Their lockers have been sealed.
The department, sources said, is looking for documents which can indicate their overseas benami transactions and has contacted other investigation agencies including police to seek details about their directors, promoters.
Sunil Jain, Mukesh Jain are directors in MP Agro Nutri Foods. 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. Shri Krishna Devcon Limited, (SKDL) is a real estate firm, in which Manish Bansal and others are directors.
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.