Probe hints at over Rs 100 cr tax evasions by Rama Group

Source: The Hitavada      Date: 08 Jun 2018 11:05:53


Staff Reporter


Promoters and Directors of Rama Group were learnt to have mentally prepared to surrender a massive concealed income before the tax sleuths following the over 24-hour long search operations covering over three dozen premises in major districts of Chhattisgarh including Raipur, Bilaspur, Korba and Janjgir. However, the taxmen are not well contended with the revelations that surfaced till Thursday late evening, even as searches were called-off from five premises in Raipur and two in Kolkata (West Bengal). There was a probability that searches would be call off in almost nearly 50 per cent premises by post
Thursday midnight. According to well-placed sources in Income Tax Department, the tax enforces so far have managed to lay their hands on undisclosed income and movable assets including gold jewellery worth Rs 2 crore and cash to the tune of Rs 12 lakh. “Yet, the searches led to disclosure of 8 bank lockers belonging to group with several banks in Raipur and Bilaspur respectively. These lockers would be opened once only after the massive search operations are called-off,” the sources added. Though these revelations appears to be a tip of iceberg given the massive spread of the Rama Group, taxmen believe that much bigger discloser could have come to fore had the information regarding the search would have not been leaked, one of the possibilities being assumed by some senior taxmen.

Sources, in the meantime, revealed that the tax officers based on their preliminary investigations has hinted for over Rs 100 crore evasions by Rama Group, whose Directors are Rajesh Agrawal, Rajeev Agrawal and Sanjay Agrawal respectively. “We are trying to decipher the dubious financial transaction data from the digital drives, including hard-drives, pen drives and computers, seized from different premises of the group. Thus, the possibility of higher tax evasion at the behest of group could not be ruled out,” the sources maintained. According to the sources, the taxmen were also probing for a possible ‘Hawala transaction’ links with the group since it was engaged in major financial transactions in Kolkata (West Bengal), some even in garb of legitimate papers, even as searches have been winded-up at two premises there. However, unconfirmed reports stated here that the operations were still underway on three other premises in another metro city, possibly Mumbai.

On the other hand, if sources are to be believed, another team of tax officers that went to Jharsuguda to search another premises of the group, whose address was found on the group’s official website, turned out to be false. Yet, the I-T officials were still looking for clues regarding the group’s presence or operations in Jharsuguda in any other forms. Moreover, one of two Group Directors, who was reported to be missing from the day search operations, turned up on late Wednesday evening, whereas another Director is learnt to be on a family jaunt to Republic of Mauritius and he is expected to return back in next couple of days.