I-T department attaches Gitanjali Gems Park worth Rs 1,200 crore in Hyderabad

HYDERABAD: The Income Tax department on Thursday said it had attached Rs 1,200 crore worth property of the Gitanjali Group, located in a Special Economic Zone in the city, in connection with its tax evasion probe. The officials said the property has been provisionally attached under the IT law and the action was taken to “recover outstanding tax demands”.

The property, spread over 170 acres, is said to be worth Rs 1,200 crore. About 635 staff working at the SEZ were informed of their termination a couple of days ago. A notice pasted at the entrance to premises read that the property has been provisionally attached under the IT law and action was taken to “recover outstanding tax demands”.

The CBI and the Enforcement Directorate (ED) have registered two FIRs each to probe this case. Gitanjali’s retail outlets in the city have remained shut for days now after its promoter Mehul Choksi, a partner and uncle of prime accused in PNB fraud case Nirav Modi emerged in news.

According to notice, five buildings including training centre has been seized. All machinery, electrical equipment and fittings, office equipment in all buildings are seized. The sub-registrar of Maheswaram mandal has been intimated that seized property cannot be registered in anyone’s name without IT department’s knowledge.

The 600 workers, including about 200 PWDs, have started an agitation after losing jobs. TRS Maheswaram MLA T Krishna Reddy extended support to workers and reportedly took up the matter with KCR.Earlier in the day, TS government said it was planning to take opinions from legal experts and the SEZ Authority on reassuming the 170-acre plot allotted for the gems park.