Gold worth 7.5cr, 25L seized so far during I-T raids at restaurant

Jaipur: Income Tax department's multi-day search operation against Kanha Restaurant group entered its fourth day Saturday, with officials confirming seizure of gold worth Rs 7.5 crore and Rs 25 lakh so far.The investigation wing of the Income Tax Department, Jaipur, launched searches early Wednesday at 33 locations linked to the group across Jaipur, Mumbai and other cities. Operations were completed at 26 premises, while action continued at seven locations in Jaipur till late Saturday evening.
"On Friday, at one of the Jaipur properties, we found a concealed chamber hidden behind a large wall. Inside the secret room were 10 small lockers. Upon opening them, officials recovered jewellery valued at approximately Rs 5 crore, along with Rs 25 lakh in cash. Following on-the-spot verification of documents, the department seized the unaccounted assets," said an officer, on condition of anonymity. In total, the search operation detected gold estimated at around Rs 11 crore, cash of Rs 1.25 crore and details of 10 bank lockers. However, after preliminary scrutiny of documents submitted by the group, authorities formally seized gold worth Rs 7.5 crore and Rs 25 lakh in cash. Verification of the remaining assets is underway. Officials said the identified bank lockers will be opened in the coming days and their contents valued. Investigators have also sought records of high-profile weddings and major events hosted over the past three years at hotels operated by the Kanha group. Authorities indicated that substantial movable and immovable assets could emerge during the continuing probe.The department expects to conclude the search proceedings by Sunday evening, after which detailed assessment and further legal action will follow.