Summary:
We found that Rs 518 crore bank frauds have been done by using bogus invoices and receivables used to take bank loans.”Income tax sleuths seized jewellery worth Rs 6 crore and recovered close to Rs 2 crore in cash besides taking lockers in possession. There is no direct relation of Manish Jain with these firms, but, indirectly there is some connection. I-T had carried out raids on February 13 at establishments of soya refinery firms in Mandsaur, Neemuch, Indore and Jaora.An official said, “The department keeps an eye at every large and small centres to ensure tax evaders are nabbed. The investigation team had travelled for around six hours in more than 80 vehicles posing as lost members of a marriage procession to trace the tax evaders. The final amount may rise further during the course of investigation and analysis of the documents..