I-T raid on 6 builders

Nagpur: The Income-Tax department conducted raids on the premises of six builders — Atul Yamsanwar, Venkatesh Kunawar, Sudhir Kunawar, Chandrakant Padmawar, Prashant Bonginwar and Vishwas Chaknalwar. All of them were linked in some project or other.
Sources said Yamsanwar, who is the biggest among the group, has major interests in the business of open plots. His business was at the helm during the realty boom off Wardha Road following developments in the Mihan-SEZ. Yamsanwar also runs a finance company under the name of Orange City Housing Finance Limited (OCHFL).
Sources said that the taxmen have come across documents related to 30-odd firms in which the six were partners in different combinations.
The raid has covered 20 different premises across the city and the operations were carried out by a team of 150 officials of the department. It is learnt that the taxmen had clues about substantial amount of cash being accepted from the buyers of these firms. A separate account of the cash transactions was also learnt to have been maintained.
The action is expected to continue for another 2-3 days, said sources.