 MUMBAI: Income tax officials raided 56 properties belonging to India's bullion king PrithvirajKothari across the country Tuesday. Sources said that RSBL and its allied firms are being investigated for involvement in the 2G scam as well as the IPL spot-fixing scandal. Kothari is former president of the Bombay Bullion Association (BBA). His company RiddiSiddhi Bullions Limited (RSBL) was founded in 1994. Industry sources said, Kothari is absconding and not available for questioning. Seniormost officials including Mumbai I-T director general Swatantra Kumar are personally supervising the o peration against 56 premises belonging to him, his chartered accountant Bhargava Vaidya, his business partners, brothers, sisters and sundry other family members.'' Vaidya's family said he was unavailable for comment. It was reported that Rs 25 crore in cash was recovered from one office alone but Kothari said the sum was in the range of Rs 5-7 crore.Sources said that RSBL was being probed for having transferred huge sums of money in the 2G scam as well as the IPL spot-fixing scandal. Kothari denied all allegations. Ours is a legitimate bullion business with a turnover of Rs 25,000-30,000 crore. Around 99.9% transactions are by cheque, a few by cash. What connection do we have to IPL or 2G? If that was true, other departments like ED (enforcement directorate) would be involved in this operation as well. This is a routine survey, nothing more.'' Kothari admitted that his partners and relatives were being investigated too, and said the raid would likely last another two or three days.  via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGllGbqtGs9TME52aQP6RSKfNNDyA&url=http://timesofindia.indiatimes.com/business/india-business/I-T-raids-Indias-bullion-king-Prithviraj-Kothari/articleshow/20544280.cms | |||
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Tuesday, 11 June 2013
IT raids India's bullion king Prithviraj Kothari - Times of India
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