Raid on Lalit Hotel Group revealed undisclosed belongings price Rs 1,000 crore, black cash: CBDT

by Jeremy Spirogis
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new Delhi: In a raid on the Bharat Hotels Group, which runs the Fine Hotel chain, the Income Tax Department has uncovered undisclosed belongings price over a thousand crore rupees and big quantities of black cash. The Central Board of Direct Taxes (CBDT) has given this info on Friday. Although the division has not named anybody within the assertion issued after the raid, official sources have confirmed that that is the case of Bharat Hotels Group. The chairperson and managing director of the group is Jyotsna Suri.

The CBDT stated that the investigation has uncovered layers and it has revealed undisclosed overseas belongings price greater than Rs 1,000 crore. <! –

                 Apart from this, tax evasion of greater than Rs 35 crore has additionally been detected on the home degree. CBDT stated that motion may be taken on this case below the Black Money Act, 2015 and Income Tax Act. The CBDT stated the group's abroad belongings embrace investments in UK resorts, actual property within the UK and UAE and money deposits in overseas banks. The assertion stated that the India Hotel Group is a key member of the nation's resort trade. Apart from being a resort overseas, there are a sequence of luxurious resorts with well-known model names at numerous locations within the nation.

24.93 crore undisclosed belongings seized in raids
The CBDT stated that up to now undisclosed belongings price Rs 24.93 crore have been seized within the raids. These embrace Rs 71.5 lakh money and jewelery price Rs 23 crore and costly watches price Rs 1.2 crore. The division began raids on 13 campuses of Delhi, Suri and others on January 19 in and across the complicated. Bharat Hotels Group operates the Fine Hotel chain within the nation. Jyotsna Suri is related to Bharat Hotels Group since 1989. She took over as chairperson and managing director of the group following the demise of her husband Lalit Suri in 2006.

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