Chandigarh - In a major operation to uncover the undeclared wealth, officials of the Income Tax Department today conducted raids on official and residential premises of at least 20 well-known education tycoons (aka Shikshan Samrats) in the tricity and its adjoining areas. The raids led to the recovery of about Rs 3 crore in cash, besides seizure of incriminating documents revealing properties worth crores of rupees.

The early morning swoop, conducted simultaneously at the residential and educational institution premises in Panchkula, Chandigarh and Mohali, reportedly led to the unearthing of large number of documents indicating unaccounted cash deposits. Deputy director Income Tax (investigation) Praveen Sidhartha said the raids were part of a major operation conducted by the department in Punjab, Haryana and Jammu and Kashmir. In Bagwali, near Barwala, Swami Devi Dayal Institute of Technology run by businessman Roshan Lal Jindal was raided.

Raids were also carried out at their spices manufacturing units at Baddi, their hospital at Barwala and dental college, which was also located at Barwala. IT sleuths also raided his residence at Manimajra.There were three kothis, said IT officials. Deputy director said almost Rs 60 lakh cash were found at the time of raid and property papers worth Rs 4 crore were seized. IT men, Chandigarh region, also raided the BRS Educational Society owned by Arun Girg at Barwala. His residence at Sector 2, Panchkula, was also raided.

IT officials said almost Rs 25 lakh was found at the time of raid and they also recovered the documents in which institute mentioned the name of students and donation amount. In Mohali, raids were carried out at the Indo Global College. IT officers also raided their residences, located at Modern Complex, Manimajra. Raid was conducted on his spice factory, which is located at Industrial Area, phase II, Ram Darbar. About Rs 2 crore found at the time of raid and eight lockers were sealed. Director of income tax (investigation) MP Singh headed the team along with additional director (investigation) RK Chaubey. Raid was still on till the filing of this report.

Courtesy: Tribune News Service