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New Delhi, August 22, 2020
A search and seizure operation by the Income Tax department at various locations in Bhopal on August 20 led to the seizure of unaccounted cash and jewellery worth Rs 1.8 crore.
During the search operation, documents of about 100 properties comprising plots, flats and agricultural lands with a market value of about Rs 105 crore were found. The documents indicate that a huge amount of undisclosed cash was invested in these properties in the past six years, a press release from the Finance Ministry said.
Most of the properties have been found in the names of persons of no means, indicating that these are "benami" properties, it said.
"The key person of one of the groups under investigation used to run a bangles shop. Another person is a property builder/developer who is also running a cricket academy.
"Documentary evidence gathered during the search operation indicates partnership/association with some retired government servants and holding of their Benami properties. Investigations are still in progress," the release added.