The Income-Tax (I-T) Department launched a series of raids on 52 premises across Bhopal, Indore, and Gwalior on Wednesday, targeting builders and land brokers involved in suspicious financial activities. These raids are part of an ongoing investigation into illegal land deals and financial misconduct within the real estate sector in Madhya Pradesh.
A large portion of the raids took place in Bhopal, with 49 properties searched, while two were located in Indore. Among those targeted were prominent figures in the construction and land brokerage industry, including well-known builder Rajesh Sharma, who has ties to high-ranking political figures. Sharma is notably associated with the construction of CM Rise Schools, a project awarded to him in Raisen. During the raids, the I-T team seized Rs 3 crore in cash, including Rs 1.2 crore from another builder. Along with the cash, the authorities also confiscated a variety of documents, mobile phones, and computer hard disks that are expected to provide further evidence of illicit transactions. Additionally, investigators uncovered 10 lockers under Sharma’s name, which contained valuable assets, including jewellery, the valuation of which is still pending.
The raids also extended to other property dealers such as Deepak Bhavsar, Vinod Agarwal, and Rupam Shivani, who are known for their involvement in land transactions and investments in the hospitality sector. This investigation highlights the ongoing efforts of the I-T Department to clamp down on illegal land dealings and ensure transparency in the real estate industry. The seizures and evidence collected in these raids are expected to play a key role in uncovering the full scope of financial irregularities and connections between builders, brokers, and influential political figures.
