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Breaking News: IT Raid on Bansal Group’s 30 Locations in Bhopal

bansal group IT raid

Around 30 locations of Bansal Group are raided by Income Tax Department today. Raid started early morning on Friday when IT officials first reached the home of Bansal Group owners, Sunil Bansal and Anil Bansal, in Arera Colony.

bansal group raid

While raiding their houses, officials took laptops and computers for investigation. In this case, the matter of undeclared assets can come to the fore.

According to sources, a team of 40 officers and staff are searching all the premises owned by the company in Bhopal, Mhow, and Mandideep.

Bansal Group Under IT Radar on Suspicious Transactions

IT raid on bansal group

The investigation wing of the income tax department targeted Bansal Group on the accounts of suspicious transactions. For this, the team is conducting a search on the TMT factory in the industrial area of Bhopal.

They are also questioning employees of the factory and have cut the telephone connection as well. The area is being investigated since 6 am in the morning and the gates of the factory are kept closed.

Also Read: ED Raids Paytm and Razorpay Offices in Bengaluru

Nobody can enter the area under investigation nor contact those within the premises until the questioning round end. So far, only 4 places are raided in the Mandideep area.

bansal group college

The investigation is also going on Bansal Group Education, Real State, Health, and other sectors. Bansal Engineering College and Sushila Devi Bansal College of Institute are also closed.

Documents and transaction records from the account section of both colleges are investigated by the team there.

Around 120 vehicles of income tax officials reached Madhya Pradesh to raid on Bansal Group of Companies.

Also Read: ‘Raid 2’ On Perfume Trader Piyush Jain

Fake Purchase of Rs 70 Crore Steal in Bansal TMT bansal IT raid

In the surveys done at 6 places, officials found documents related to the fake purchase of steel worth Rs 70 Crore. They also found that the factory was mainly doing transactions in cash to hide income.

Bansal is a known name in Madhya Pradesh and has helped the redevelopment of the state, the prominent being Rani Kamlapati Station of Bhopal.

Thus, after hearing the news of the IT raid on Bansal everyone is surprised and shocked. However, there is no official news on what the IT team has figured out from the investigation and how long will it continue.

Stay tuned with us for the latest updates on news

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