I-T sleuths mount searches on Singhal Group

Source: The Hitavada      Date: 01 Sep 2017 10:42:11


 

The Hitavada State Bureau,

Raipur/Durg,

Premises of all the six directors of group namely Ravi Singhal, Arun Singhal, Santosh Singhal, Kunj Bihari Singhal, Nisha Singhal and Rachana Singhal were being searched and unaccounted cash of Rs 50 lakh seized

In a post-dawn swoop, sleuths from Investigation Wing of Income Tax Department, on Thursday, mounted concurrent search operations on Singhal Group, which is into diversified multi-million business of steel processing/manufacturing, mining of non-ferrous metal ores, metal casting, surface transport, commodity brokerage/auctioneering, infrastructure development and real estate in Chhattisgarh, West Bengal and New Delhi respectively.


Taxmen, divided into several teams, covered nearly two dozen premises including official as well as residential, belonging to the group directors.
Reinforced with armed police escort, the tax enforcers
mounted searches on the multiple premises of all the six
directors of group namely Ravi Singhal, Arun Singhal, Santosh Singhal, Kunj Bihari Singhal, Nisha Singhal and
Rachana Singhal.


The tax watchdogs also covered the premises of other business partners associated with the group.
Even as the senior income tax officials confirmed about the sezier of unaccounted cash to the tune of over Rs 50 lakh from different premises on the day first of the operation.


According to sources in Income Tax Department, the group owns multiple business and industrial ventures.
The offices of these business establishments are spread across Chhattisgarh such as Raipur, Bhilai and Durg, in addition to its expanded operations in West Bengal and New Delhi, the sources added.


“Based on precise inputs of tax evasions, the Income Tax Department conducted search operations on over
20 premises of Singhal Group in Chhattisgarh, which mainly deals in steel processing and land transport business at a huge scale,” affirmed R K Paliwal, Director, Investigation Wing (Bhopal) while talking to The Hitavada over phone.


According to Paliwal, the searches that commenced concurrent at around 8.30 am on Thursday morning were underway and likely to continue for another day or two since heaps of incriminating documents from different premises were being subjected to minute scrutiny. “No other details could be shared since the search operation was under preliminary stage, but the quantification of evasion is likely to be massive,” he added.


Sources informed that the Singhal Group owned Supreme Road Transport Private Limited has six active Directors/Partners viz. Ravi Singhal, Arun Singhal, Santosh Singhal, Kunj Bihari Singhal, Nisha Singhal and Rachana Singhal and there are no other active Director/Partners in the company except these 6 officials. “Of all the six directors, Ravi Singhal happens to be the most influential since he is active Director with 13 other companies namely Supreme Road Transport Private Limited; Akansha Minerals Private Limited; CG Sai Baba Land Developers Private Limited; SR Ingots Private Limited; Nayantara Mercantile Private Limited; SR Real Estate Developers Private Limited; Sky Alloys and Power Private Limited; Satvik Minerals Private Limited; Amritlaxmi Commosales Private Limited; Sargam Commotrade Private Limited; Winsher Vinimay Private Limited; Meghna Distributors Private Limited and Budhadev Infra Estate Private Limited,” the sources averred.


In Raipur, according to the sources, the tax sleuth searched the Walfort City-based A-5 residence of Sandeep Kumar Agrawal. He is one of the Directors with the Singhal-group owned companies Sky Alloys and Power Private Limited; SR Ingots Private Limited; Nayantara Mercantile Private Limited; CG Sai Baba Land Developers Private Limited; SR Real Estate Developers Private Limited and Budhadev Infra Estate Private Limited.


Other premises of the group Directors and their family members situated in posh Choubey Colony and Shankar Nagar near BTI Group were also being searched, in addition to the office premises of Supreme Road Transport Private Limited situated on Mahadev Ghat Road in Raipur; Devendra Nagar; Shukrawai Bazaar in Gudhiyari; DD Nagar on Ring Road-1; Siltara Industrial Estate; Near Shri Ram Mandir on BIP Road and Nehru Nagar East in Bhilai. Meanwhile, a two-member team of taxmen were also recording the statements of group directors in West Bengal.
The Hitavada made several attempts to reach out over the cellphone of Director General (Investigation-Bhopal) Ajay Jaiswal as well as Joint Director (Investigation) Rignesh Das in Raipur, but none of them could be available for availing more details about the search operations. Till the reports last went for the print, the operations were going on smooth sans any resistance.