IT Department Raids Retired IAS Officer, Recovers Rs 300 Crore Benami Property, Rs 1.64 Crore Cash, Four Luxury SUVsRepresentative Image (pic via Twitter)

The Income Tax (IT) department on Wednesday (13 March) announced that it has recovered documents indicating benami property worth Rs 300 crore during a raid on a retired IAS office of the Uttar Pradesh cadre, Press Trust of India has reported.

These benami properties include six properties in the posh localities of Mumbai and Delhi. Three properties have also been identified in Kolkata.

Also recovered during the raid was Rs 1.64 crore in cash, four luxury SUVs and Mont Blanc pens worth Rs 50 lakh. This raid was carried out on former IAS officer Net Ram who served as a secretary in the erstwhile Mayawati government from 2002-03.

The IT department had earlier received inputs that the former IAS officer and his associates had made bogus entries worth Rs 95 crore in Kolkata based shell firms during demonetisation. He is believed to have come under the radar while “negotiating” a Lok Sabha ticket from a political party.

The raid lasted about 26 hours and the IT department is yet to open a bank locker in which cash worth Rs 50 lakh is believed to have been stashed.

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