The raids started at 8.30 AM this morning in 37 premises of Uflex Limited, owned by Ashok Chaturvedi. "The raids were carried out in nine cities including New Delhi, Mumbai, Thane, Bhind, Alwar, Dehradun, Jammu, Haridwar and Noida," Director General, Income Tax (Investigation) Krishna Saini told reporters here.
The raids were conducted following complaints of cash sale of over Rs 1,000 crore by the company during the past four-five years, which has turnover of over Rs 3,000 crores, he said.
"During raids, till now Rs 100 crore bogus sale has been detected. Unaccounted cash worth Rs 2 crore and jewelleries have also been found while work of opening lockers is underway," Saini said.
During inquiry, genuine sale was not found and seven bogus concerns, where sale of Rs 100 crores were claimed to have been found.
"We have so far detected 20-25 companies (associated with Uflex) which we suspect are bogus/dummy, where bogus sale of Rs 100 crore was shown.
"Over Rs 1,000 crore has come in the company from unknown sources," he said.
The entire operation was led by Director, Income Tax (investigation) Ashok Tirpathi. During the raid 50 officers, 100 income tax inspectors and four platoon of CRPF were used, Saini said. Asked about 'hawala' links, Saini said that it was "pre-mature to declare so".
In 2010, Uflex Director Ashok Chaturvedi and Neera Yadav, the former chief secretary of Uttar Pradesh government, were sentenced to four years in prison by a CBI court in a 1994-95 Noida land scam case.
In 2001, Chaturvedi was arrested by the CBI under the Prevention of Corruption Act for allegedly bribing a top excise department official.
Former cabinet secretary Prabhat Kumar was forced to resign as Jharkhand Governor after reports that Chaturvedi had paid for his private parties appeared in the media.