Rs 4.5 crore,property papers seized in I-T raid on Nitish aide

IT department has raided 3 premises of JD(U) treasurer and former Bihar MLC Vinay Sinha.

Written by Santosh Singh | Patna | Published: March 22, 2012 10:05:05 pm

The income-tax department has raided three premises of JD(U) treasurer and former Bihar MLC Vinay Kumar Sinha and seized Rs 4.5 crore cash and papers of over 50 flats in and around Patna.

Sinha,who is said to be close of Bihar Chief Minister Nitish Kumar,has real estate and flour mill businesses in Patna. Nitish lived in Sinha’s home in the early days of his career in politics.

Rs 4.06 crore of the cash seized is unaccounted for,the I-T department said. The discovery of the stash is an embarrassment for the Nitish government,currently in the middle of Bihar Diwas celebrations.

JD(U) state president Vashistha Narain Singh said the money belonged to Sinha,not to the party. “He is the treasurer,but the JD(U) has nothing to do with the cash seized from his premises. The JD(U) files I-T returns and maintains full transparency in its accounts,” Singh said.

I-T Director (Vigilance) Ajay Kumar said the cash was found at a flour mill owned by Sinha. “We have also found papers of investments worth over Rs 30 crore made by Sinha and his two brothers Avinash and Rajesh,who too are in the flour mill and real estate businesses,” Kumar said.

Sinha’s homes in Rajapur and Mainpura were also raided. The I-T department has started scrutinizing the businessman-politician’s bank transactions.

Sources in the I-T department said investigators stumbled upon Sinha’s stash in the course of routine surveys to detect black money flows into real estate investments. The seizure triggered full-fledged search and raids,which began on Tuesday and ended yesterday

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