The Income Tax department has unearthed a network of about 100 "benami" properties, some linked to retired government officers after it conducted raids in Bhopal, an official release said on Friday. Documents seized during the searches launched at various locations in the capital city of Madhya Pradesh on August 20 indicate that a "huge amount of undisclosed cash" was used to purchase these suspect properties over the last six years.
The "key person" of one of the groups raided used to run a bangles shop, said the official release. "Another person covered is a property builder/developer and is also running a cricket academy," said the statement.
"During the course of the search operation, documents pertaining to about 100 properties in the nature of plots, flats and agricultural land having a market value of about Rs 105 crore have been found. Documents indicate that a huge amount of undisclosed cash was invested in these properties in the last 6 years. Most of the properties have been found in the names of persons of no means, indicating that these are benami properties," it read. It added that cash and jewellery worth Rs 1.8 crore were also seized during the operation.
"Documentary evidence gathered during the search operation indicates partnership/association with some retired government servants and holding of their benami properties," it read. The investigations are still in progress.
