“We have seized Rs 10 crore in cash and jewellery worth Rs 57 lakh from the premises of the financial broker,” Additional Director of Income Tax Prasannjeet Singh told reporters.
The seizure was made during a raid by the I-T sleuths at two residential premises and an office complex of the broker Damodar Modi on Tuesday. Several cars were also seized, Singh said.
Modi is the ‘sangrashak’ of Jaipur ‘prant’ of VHP and is its senior-most leader in Rajasthan.
Modi had eight bank lockers and property worth Rs 22 crore. The broker also admitted to having undeclared income of nearly Rs 23 crore and agreed to pay the tax on it, Singh said. “The amount of cash seized by the I-T department is the biggest so far in the state,” the senior I-T official said adding “other documents relating to the broker’s properties are being examined”.
Published 26 August 2009, 17:14 IST