I-T raids on Oriental Group, real estate broker

Source: The Hitavada      Date: 13 Jan 2018 11:20:46


Staff Reporter,

Income Tax Department conducted raid against Oriental Group working in education field and real estate broker group on Friday. More than one dozen premises were covered in the raid spread in Bhopal, Indore, Jabalpur respectively. Huge case and incriminating documents have been seized. Income tax officials are going through the documents to assess the tax evasion. I-T raid is likely to continue for couple of days.

Sources in I-T Department told ‘The Hitavada’ that raids have been conducted against Oriental Group belonging to Thakral family and real estate broker group. Seven premises of each group have been covered under the raid.The second group is totally based in Bhopal. Meanwhile, premises of Oriental Group are located in Bhopal, Indore and Jabalpur and all of them have been covered. Oriental group’s three premises including Oriental College have been covered in Bhopal, three in Indore and one in Jabalpur. Whopping sum of Rs 25 lakh has been seized in raid against Oriental Group.

In a raid against the real estate broker group run in partnership between Dilip Gupta and Rajendra Kumar Pawar, cash worth Rs 5.94 lakh has been seized. Oriental Group runs education institutions, including college, and its entire business is connected through education in either one form or the other.

A senior IT officer told that in Friday’s raid against both groups, bogus entries have been found and they are being examined. Apart from this, bank lockers have been also found but they are yet to be operated. The real estate brokerage group is mainly connected with cash deposit and had opened several bank accounts in Bhopal. As of now, I-T officers are going through the seized incriminating documents suggesting the tax evasion and exact tax evasion amount would be known once raid gets completed. It is being anticipated that raid will continue till Monday.