I-T sleuths seize Rs 100 crore from contractor

I-T sleuths seize Rs 100 crore from contractor

IT officials on Wednesday started a raid at Lal Babu Singh’s house at Jharia  town in the Dhanbad district. The raids in Jharia and Dhanbad continued on Thursday.

According to sources, the IT officials seized 13 accounts with deposits of nearly Rs 100 crore in the name of Singh, his family members or relatives in the Ana branch of the Bank of India at Dhanbad. The total deposits of the contractor in the bank are  Rs 150 crore.

The raid is being conducted under the supervision of the Additional Director of IT Investigation, Ajit Srivastav.

Singh supplies materials to the Bharat Coking Coal Limited (BCCL). He amassed wealth in connivance with BCCL officials, according to the sources.

Singh became a billionaire 12 to 13 years after he started supplying materials to BCCL. He is originally a resident of the Balia district of Uttar Pradesh and arrived in the coal city 14 years ago. His three brothers also work as contractors in the area.