Raids on locations related to Mayawati's former secretary, Netram resulted in the disclosure of 30 shell companies, additional properties worth 225 crore and crores of cash, said sources in Income Tax department on Wednesday. Multiple locations related to Netram were raided by the Income Tax officials on Tuesday.
As per IT sources, in most of 30 shell companies, either family members of the assessee or his in-laws were shown as shareholder and director, "His in-laws expressed complete ignorance about such companies. Children of the assessee are authorized persons to operate bank accounts of shell companies." "Accommodation entries of about 95 crore from Kolkata based entry operators, acquired 6 properties out of bogus share capital of 95 crore. Two properties in Delhi, One in Mumbai and three in Kolkata," the sources added.
IT Sources also stated that Rs 18 lakh in cash was recovered from Netram's Lucknow house, Rs 86 lakh from Delhi house and additional Rs 60 lakh cash was seized, which was linked to other person. Apart from these recoveries, another 50 lakh is stated to be in a locker.
IT sources further stated that recoveries included 4 benami luxury cars, Mont Blanc pens worth Rs 50 lakh and scores of property papers being found. The raids on tax invasion also disclosed documents of gift of shares of shell company to family members of assessee, handwritten diaries recording transactions for acquiring shell companies and investments, sources revealed.
IT raids also revealed extra luxurious interiors, mini theatre, gym and fittings at Lucknow and Greater Kailash (Delhi) houses.