I-T raid on Surat’s tea seller-turned-financier: ED to join probe after over 2.67 kg

[prasad1]

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Continuing their raid on Surat financier Kishor Bhajiyawala, Income Tax officials seized gold ornaments worth Rs 2.67 crore from the locker of Bhajiyawala’s dummy account in Surat People’s Co-operative Bank on Saturday. Meanwhile, the Enforcement Directorate (ED) is set to join the probe. The ED officials have also started collecting information about Bhajiyawala’s wealth from Surat Income Tax department. They are also trying to figure out whether money-laundering case can be registered against him.




By: Express News Service | Surat | Updated: December 18, 2016 12:03 pm

On Saturday, the I-T officials checked the register of the room which contains bank lockers and are checking the lockers operated by Surat’s tea seller-turned-financier Bhajiyawala. (Representational)Continuing their raid on Surat financier Kishor Bhajiyawala, Income Tax officials seized gold ornaments worth Rs 2.67 crore from the locker of Bhajiyawala’s dummy account in Surat People’s Co-operative Bank on Saturday. Meanwhile, the Enforcement Directorate (ED) is set to join the probe. The ED officials have also started collecting information about Bhajiyawala’s wealth from Surat Income Tax department. They are also trying to figure out whether money-laundering case can be registered against him.








Since these raids started on December 13, the Income Tax officials have seized gold ornaments worth Rs 9.67 crore from Bhajiyawala’s lockers. I-T officials claimed to have seized property and sale deed documents worth thousands of crores from Bhajiyawala. The search and survey operation, carried out by the Directorate of Investigation (DI) wing of the Surat Income Tax Department, is expected to continue for a few more days.
On Saturday, the I-T officials checked the register of the room which contains bank lockers and are checking the lockers operated by Bhajiyawala. The I-T officials found that apart from the bank lockers registered in his name, Bhajiyawala used to operate many other lockers. The officials checked one of the lockers operated by Bhajiyawala and found 2 kg gold ornaments worth Rs 2.67 crore.

Apart from this, acting on a tip-off, the I-T officials reached plot no. 23 at Udhyog Nagar Society, Udhna, on Saturday evening. I-T officials were told that the open plot is owned by Bhajiyawala. Suspecting that Bhajiyawala might have hidden property documents or cash in the only hut built on the plot, they managed to go inside and search after a heated exchange with the five bouncers deployed there.

The I-T officials also carried out searches at the old jewelery shop in Bhagatalo area in Surat owned by Bhajiyawala. They seized several land-related documents from there. Bhajiyawala never used to give this shop on rent and it has been closed for long. Sources said that the I-T officials have started investigating the new bank accounts opened in Udhna Branch of Surat People’s Co-operative bank from November 9 till date.
The officials suspect that Bhajiyawala could have opened new bank accounts and deposited cash in them. The I-T officials have started verifying such accounts.
http://indianexpress.com/article/in...d-seized-by-i-t-ed-set-to-join-probe-4433035/


New crime and new criminal being created due to Cash Crunch created due to blunder of implementation of the demonetisation.

 

[Vaagmi]

Continuing their raid on Surat financier Kishor Bhajiyawala, Income Tax officials seized gold ornaments worth Rs 2.67 crore from the locker of Bhajiyawala’s dummy account in Surat People’s Co-operative Bank on Saturday. Meanwhile, the Enforcement Directorate (ED) is set to join the probe. The ED officials have also started collecting information about Bhajiyawala’s wealth from Surat Income Tax department. They are also trying to figure out whether money-laundering case can be registered against him.
By: Express News Service | Surat | Updated: December 18, 2016 12:03 pm

On Saturday, the I-T officials checked the register of the room which contains bank lockers and are checking the lockers operated by Surat’s tea seller-turned-financier Bhajiyawala. (Representational)Continuing their raid on Surat financier Kishor Bhajiyawala, Income Tax officials seized gold ornaments worth Rs 2.67 crore from the locker of Bhajiyawala’s dummy account in Surat People’s Co-operative Bank on Saturday. Meanwhile, the Enforcement Directorate (ED) is set to join the probe. The ED officials have also started collecting information about Bhajiyawala’s wealth from Surat Income Tax department. They are also trying to figure out whether money-laundering case can be registered against him.

Since these raids started on December 13, the Income Tax officials have seized gold ornaments worth Rs 9.67 crore from Bhajiyawala’s lockers. I-T officials claimed to have seized property and sale deed documents worth thousands of crores from Bhajiyawala. The search and survey operation, carried out by the Directorate of Investigation (DI) wing of the Surat Income Tax Department, is expected to continue for a few more days.
On Saturday, the I-T officials checked the register of the room which contains bank lockers and are checking the lockers operated by Bhajiyawala. The I-T officials found that apart from the bank lockers registered in his name, Bhajiyawala used to operate many other lockers. The officials checked one of the lockers operated by Bhajiyawala and found 2 kg gold ornaments worth Rs 2.67 crore.

Apart from this, acting on a tip-off, the I-T officials reached plot no. 23 at Udhyog Nagar Society, Udhna, on Saturday evening. I-T officials were told that the open plot is owned by Bhajiyawala. Suspecting that Bhajiyawala might have hidden property documents or cash in the only hut built on the plot, they managed to go inside and search after a heated exchange with the five bouncers deployed there.

The I-T officials also carried out searches at the old jewelery shop in Bhagatalo area in Surat owned by Bhajiyawala. They seized several land-related documents from there. Bhajiyawala never used to give this shop on rent and it has been closed for long. Sources said that the I-T officials have started investigating the new bank accounts opened in Udhna Branch of Surat People’s Co-operative bank from November 9 till date.
The officials suspect that Bhajiyawala could have opened new bank accounts and deposited cash in them. The I-T officials have started verifying such accounts.
http://indianexpress.com/article/in...d-seized-by-i-t-ed-set-to-join-probe-4433035/


New crime and new criminal being created due to Cash Crunch created due to blunder of implementation of the demonetisation.

I am disappointed that the story stopped there without going further to connect the Bhajiyawallah with the well known chaiwallah and his chai pe charcha. Particularly the fact that the bhajiyawallah was once a chaiwallah and he too is a Gujarathi. LOL.

 

[prasad1]

Does snide and smug remarks negate the original facts being reported? What does it add? It just goes to to show the character of the individual making the hurtful comments.

It is typical to demean the messenger and twist the story. The truth remains the same. The facts are there for sane people to see. Pictorial evidence and police reports are not something that you can hide behind the curtain of personal attacks.

 

[V.Balasubramani]

New crime and new criminal being created due to Cash Crunch created due to blunder of implementation of the demonetisation.

Another version of the same news by a different media...... speaks volume....!!!

Demonetisation: IT raids Surat based financier Kishore Bhajiawala, recovers assets worth Rs 400 crore (appx)

All thanks to demonetisation, where it looks like the Income Tax IT) department have become hyperactive on a seizure spree


All thanks to demonetisation, where it looks like the Income Tax IT) department have become hyperactive on a seizure spree.

The IT department have raided the premises of tea cum ‘bhajia’ seller Kishore Mangal Bhajiawala and recovered approximately Rs 400 crore in cash, bullion, jewellery and property papers.

Though Kishore Bhajiawala has been paying taxes but sources in the IT department have found his actual annual income more than five times the figure declared by him.

It is understood that the tea seller turned financier Kishore Bhajiawala had accumulated such humongous wealth by financing leading realtors in the city which worth several crores. The investigation and search operations are underway. Most likely the IT department will get the details of other realtors.

On December 10, the IT department had seized cash worth Rs 5.7 crore in new notes, 32 kg gold biscuits and jewellery and Rs 90 lakh worth of cash in old currency, from the bathroom tiles of Hawala dealer in a town as far as Challakere in Karnataka.

Read more at: http://www.financialexpress.com/ind...covers-assets-worth-rs-400-crore-appx/477529/

Positive side of the news is that the IT Department is more active now...

 

[V.Balasubramani]

Let the naysayers spare Modi for this......

How is keeping cash at home a crime, Karnataka HC asks CBI

On December 9, the HC asked the CBI not to arrest a contractor, who was found to be in possession of Rs 4.8 crore in new notes during an Income Tax raid on his flat on December 1.

The CBI said the contractor had entered into a criminal conspiracy with bank officials to obtain large amounts of new currency, since RBI guidelines state that banks should disburse a limited amount of new notes to each individual. (Representational image)
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AMID SEIZURES of new currency notes from across the country, the Karnataka High Court has asked the CBI how keeping cash at home amounts to a crime. A special CBI court has also said that “possessing cash in hand in itself is not an offence’’. On December 9, the high court asked the CBI not to arrest a contractor, Ibrahim Sheriff, who was found to be in possession of Rs 4.8 crore in new notes during an Income Tax raid on his flat on December 1.


Link: http://indianexpress.com/article/in...e-limit-karnataka-high-court-ask-cbi-4436183/

 

[vgane]

IT & ED are rightly hyperactive...But they are inadequately staffed & are under tremendous pressure!!

 

[auh]

I am disappointed that the story stopped there without going further to connect the Bhajiyawallah with the well known chaiwallah and his chai pe charcha. Particularly the fact that the bhajiyawallah was once a chaiwallah and he too is a Gujarathi. LOL.

It shall be henceforth known that no gujarathi chaiwallah shall be dragged into any controversies, especially if he has a chacha, oops, charcha, over a cuppa chai. Those who do so would be forced to demonetize their savings into whatever form the charchawallah chacha likes.