I-T Searches on Builders in Bhopal, Indore, and Gwalior
On Wednesday, the Income Tax (I-T) department conducted coordinated raids at 52 locations across Madhya Pradesh, targeting three prominent construction and land brokerage firms in Bhopal, Indore, and Gwalior. Out of the total, 49 locations were in Bhopal, with two in Indore.
Seizures and Investigations Unfold
The investigation has led to the discovery of 10 lockers under the name of builder Rajesh Sharma, containing valuable assets, including jewellery, the valuation of which is still in process. The authorities have seized Rs 3 crore in cash, including Rs 1.2 crore from another builder. Additionally, several documents, mobile phones, and computer hard drives were confiscated during the searches.
Rajesh Sharma’s Connections and the CM Rise Schools Project
Rajesh Sharma, who secured the contract to build the CM Rise Schools, including a project in Raisen, is known for his alleged ties with influential political figures, particularly a former BJP minister. Sharma’s business activities have been under scrutiny due to his extensive involvement in land transactions and construction projects.
Other Builders Involved in the Searches
The raids also targeted other prominent property dealers, including Deepak Bhavsar, Vinod Agarwal, and Rupam Shivani. These builders are linked to land dealings and investments in the hotel sector. The ongoing investigation continues to uncover critical information regarding their financial activities.
