Jalna raids: I-T sleuths dressed as 'baaratis' raid company, seize assets worth Rs 100 cr

The Income Tax department has recovered an undisclosed wealth of more than Rs 300 crore during an eight-day raid (between August 1 and August 8) at the premises of a Jalna-based group, which deals in cloth, steel, and real estate businesses.  

According to news reports, the raid was conducted at three rolling mills in the new Maharashtra Industrial Development Corporation (MIDC) and financial transactions related to them. The raids were simultaneously conducted by five dedicated teams of I-T officials from Nashik, along with local officials at homes, farmhouses, and offices of the steel manufacturing factories. The cash and other valuables were recovered from a farmhouse away from Jalna city in Maharashtra. The department has found Rs 56 crore in cash, 32 kilograms of gold, pearls, diamonds, and property papers after it received a tip-off of illegal cash transactions.

The cash was found in bundles, which was mostly stashed under cupboards, beds, and in travelling bags. Besides, along with gold ornaments, gold biscuits, bricks, coins, and diamonds were found.  
 

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