Surat Income tax department officials Wednesday carried out search operations at a financier’s firm and seized cash worth Rs 23 lakh, comprising old demonetised notes and new 2,000 notes from his firm. The officials have started probing the three banks in which the suspect and his family have over 29 accounts.
Acting on specific input, the Income Tax department officials carried out search operation at the firm owned by one Kishor Bhajiyawala at Udhna gam in Surat on Tuesday evening. The search continued till Wednesday night. The officials also seized computer, lap tops and investment documents from his firm.
Sources in Income Tax department claimed that Bhajiyawala and his family have over 29 accounts in different banks, like HDFC, Bank of Baroda and Surat People’s Co-Operative Bank. Among them, nine accounts are current while the remaining are saving. I-T officials also found that Bhajiyawala has more bank accounts under dummy names. They seized bank lockers operated by him and his family members. The officials suspect that the amount will reach crores at the end of investigations.
Reliable sources said that Bhajiyawala had got large amount of new currency on behalf of old currency from the bank. The I-T officials are also checking the role of the bank officials in this case. Bhajiyawala has been transferring money from one account to another account and also from banks to banks. This could be to mislead the investigating agency, said the I-T source.
Among the documents seized from Bhajiyawala’s office, the officials found many property documents of flats, bungalows and houses in Surat from his office. The officials have also started search operation at his house. The officials are carrying out the verification of the documents seized from his office.