Income Tax raids Gopal Dairy

A team of about 80 officials from the Income Tax Department conducted raids on Mar 27 at 13 locations in Ahmedabad associated with Raju alias Nishit Desai and his brother Gaurang, owners and operators of Gopal Dairy and the Ahmedabad-based River View Hotel.

The raids, which began at 8 a.m., were carried out as the two brothers were purported to be involved in large-scale dubious transactions.

Sources in the I-T department mentioned uncovering a massive network in the raids.

Raju and Gaurang run the Gopal Dairy and River View Hotel. Sources in the I-T department have found that the brothers ran an interest-money circulation network under the guise of these businesses. Their partners are also suspected to be involved in this massive nexus.

It was found that they were lending money at a staggering interest rate of 5% to 10% per month. The money borrowers from the duo also include prominent builders.

The perpetrators are accused of seizing project possessions from builders unable to repay the interest loan amounts. Which is why the property documents confiscated in the raids belonged to others.

A complaint was also filed against the brothers with the AMC (Amdavad Municipal Corporation) for cases of illegal construction.

Groups and associates involved in this fishy transaction network are also being scrutinised thoroughly by the I-T department.

Further details in this case are likely to surface in the coming days.

Also read:

Three builder groups in Ahmedabad raided by 150 income tax officials

I-T officials raid residences, offices of builders in Gandhinagar

I-T raid in Rajkot recovers ₹500 cr stashed funds of builder group