I-T sleuths raid nine major real estate developers in MP

Income-Tax sleuths on Thursday conducted raids on the establishments of nine major real estate developers in Madhya Pradesh, several of them were reportedly said to have links to powerful people in the state.

A strong contingent of around 600 I-T officers from Delhi conducted simultaneous raids on these establishments in Bhopal and Indore. The raids continued till the last reports came.

“At least 112 ‘benami’ properties have come to fore so far following the raids. The properties include 357 acres in Bhopal. Valuation of the properties was being done”, a senior I-T officer told this newspaper requesting not to be quoted since he was not authorised to speak to the media.

Sources said an anonymous letter reached the Enforcement Directorate (ED) last year informing that some retired and serving civil service officers of MP cadre have invested in some real estate companies in the state. The ED had then referred the matter to the Central Board of Direct Taxation (CBDT) for a probe.

The Thursday’s income tax raids on these establishments were fallout of the probe into the matter by CBDT, the IT officer indicated. Opposition Congress gave a political spin to the IT raids linking promoter of Faith Group Raghavendra Singh Tomar to power corridor here.

Party spokesman Narendra Singh Saluja released a picture of 2012 showing the builder in company of Chief Minister Shivraj Singh Chouhan to establish their alleged links.

The party also referred to several pictures posted in the real estate developer’s social media site showing him in the company of state minister Aurobind Bhadoria at several places.