Madhya Pradesh: IT raids at road contractor’s premises in Bhopal

Bhopal, Feb 20: The Income Tax Department continued their searches on Wednesday at four locations, including house and office, of a road contractor Nilay Jain, Madhya Pradesh capital Bhopal's Arera Colony.

The ongoing searches at the premises of the prominent road contractor have also led to the recovery Rs 1 Crore cash from his house, Rs 70 Lakh from bank locker and precious jewellery worth around Rs 70 lakh.

Income Tax department raids which started at three premises of a prominent road contractor and business associates in Madhya Pradesh capital Bhopal on Tuesday have led to the seizure of Rs 1.70 crore unaccounted cash - perhaps the biggest seizure of unaccounted cash in a single day by the IT sleuths anywhere in the state.