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.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement