- 200 crore transactions of Ratnamani were found
- IT also raided chemical traders in Ahmedabad and Gandhidham
The raids by the Income-tax department on Astral and Ratnamani Metals continued for a third day. Astral Pipe chairman Sandeep Engineer and Ratnamani chairman Prakash Sanghvi have so far found jewelery worth Rs 4 crore and Prakash Sanghvi with unaccounted transactions worth about Rs 200 crore. The city’s Monarch Group was also searched by the Incometax Department. Monarch Group’s servers, documents are being examined.
On the other hand, Delhi, Ahmedabad, Gandhidham-based chemical traders were also raided by the Delhi Income Tax Department. According to the department, approximately Rs. Chemical purchases of Rs 56 crore from neighboring countries have been paid for in other countries and large sums of money have been transferred from the hawala. These companies are managed by a professional firm. This professional firm is named after the company’s pawnbroker, driver. A bank balance of Rs 28 crore and a case of Rs 66 lakh were found in the robbery.
Incometax also raided
Monarch Security Broker in Navrangpura and its other companies on Wednesday. Many IPOs have been raided for their role in Bitcoin. The group has invested in IPO listings, stock levies, commodities and gold levies. The group is also being investigated for having money transactions with companies abroad.