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135 Crores Seized in IT Raids!
By: Tupaki Desk | 25 Nov 2014 7:14 AM GMT
Sahara chief Subrato Roy gets another shock. The income-tax (I-T) department conducted searches on the premises of the Sahara group in Noida ,Delhi and adjoining areas on charges of tax evasion and they reportedly seized amount worth 135 crores. Sources said that this is the one of its highest seizures made by department in recent times.
The raids were happened on last Saturday(22 nov) but it came to light lately. The entire cash has been remitted in a public sector bank branch in Delhi. Along with money and Gold the IT sleuths have seized some documents, electronic records from the premises.
Officials said the I-T raided these offices on suspicion and intelligence inputs that huge amounts of cash lying at these locations. The Sahara management saying that the cash was blocked due to the restrictions imposed by SEBI.The tax department is expected to inform the Enforcement Directorate about the cash for probe of any suspected hawala transactions.
Its known that recently Enforcement Directorate registered a money laundering case against the Sahara group in connection with non-payment of crores of rupees to depositors as probed by capital markets regulator SEBI.Sahara Chief Subrata Roy and two directors of Sahara group have been lodged in prison since early March for non-payment of dues to SEBI.
The raids were happened on last Saturday(22 nov) but it came to light lately. The entire cash has been remitted in a public sector bank branch in Delhi. Along with money and Gold the IT sleuths have seized some documents, electronic records from the premises.
Officials said the I-T raided these offices on suspicion and intelligence inputs that huge amounts of cash lying at these locations. The Sahara management saying that the cash was blocked due to the restrictions imposed by SEBI.The tax department is expected to inform the Enforcement Directorate about the cash for probe of any suspected hawala transactions.
Its known that recently Enforcement Directorate registered a money laundering case against the Sahara group in connection with non-payment of crores of rupees to depositors as probed by capital markets regulator SEBI.Sahara Chief Subrata Roy and two directors of Sahara group have been lodged in prison since early March for non-payment of dues to SEBI.
