The Income Tax department conducted raids at the premises of two private companies in the National Capital Region and seized Rs 10 crore in cash and gold and diamond jewellery weighing over two kg.
In the raids conducted yesterday on the official and residential premises of Mcconn Infra Private Limited and Meenu Creations Private Limited at Delhi, Noida, and Ghaziabad, the IT teams found a key of a car, parked near a house of Mcconn Infra Private Limited's Director Rajendra Manocha.
When the car was searched, Rs 10 crore was found in it, Director General (investigation), Krishna Saini said told PTI.
In another such raid at the house of Kusumlata, wife of Noida authority engineer-in-chief Yadav Singh, Rs 12 lakh cash, two kg gold and diamond jewellery were recovered.
Kusumlata is Director of Meenu Creations, which manufactures designer clothers.
The raids were conducted in conenction with the sale of plots in Noida through bogus share-holdings, Krishna said.
Saini said that Rs 44 lakh cash was recovered from the premises of Anil Peshwari, who is one of the directors of Meenu creations, in whose premises unaccounted stock of clothes worth Rs 12.5 crore was found.
The officer said that the raid is still going on and 14 lockers were also detected in it.
"The major allegation on these companies is that they got 30 to 40 plots alloted in Noida by forming bogus share holdings in Kolkata. Later, their shares were offloaded. In this way, those who purchased the shares got plots. All these transactions were made in the last three to four years," Saini had yesterday said.
The DG said that directors of Mcconn include Rajendra Manocha, Namrata Manocha, Anil Peshwari, and Kusumlata. Kusumlata left the company in 2012-2013.
He said that it was estimated that the company stocked excess stock, adding that some of the benami properties were also being investigated.
On whether Yadav Singh misused his post to get land allotted, Saini said, "We cannot say whether the post was misused or not as of now. Let the papers get examined, then we will say. It is possible that Singh can be questioned".
