IT detects Rs 360 cr wealth from suspended MP officer-couple

Last Updated: Wednesday, January 19, 2011 - 16:14

Bhopal: The Income Tax department has
claimed to have detected wealth valued at a whopping Rs 360
crore from suspended Madhya Pradesh IAS officer couple Arvind
and Tinu Joshi and disproportionate to their known source of
income.

Department sources said here today that the biggest
amount of ill-gotten money probably detected from any IAS
officer in the country was unearthed following several Income
Tax raids on the premises of the duo. The first raid on
February 4 last had yielded Rs three crore and a number of
documents about their alleged unaccounted investments, the
department claimed.

Jewellery worth Rs 67 lakh and foreign currency worth
Rs seven lakh and seven suitcases were also recovered during
the raids, the department claimed. The raids were carried out
following complaints that the officers had allegedly made huge
investments in an insurance company.

In a 7,000-page appraisal report submitted recently to
the Madhya Pradesh Chief Secretary, Avni Vaish and Lokayukta P
V Naolekar, the department has given details of investments
made by the Joshis.

Both Arvind and Tinu, who are 1979-batch IAS Officers
of the Madhya Pradesh Cadre, have held important positions in
the Centre since the late 80s.

Tinu served as Deputy Secretary in the PMO from July 1,
1988 to January 1, 1990 while Arvind was Joint Secretary in
the Defence Ministry during the 1999 Kargil hostilities.

As per the report, the two have made investments in a
number of areas ranging from agriculture to real estate and
stock market.

The couple purchased agricultural or non-agricultural
land at a number of places including Kanha and Bandhavgarh
national parks, Raisen, Balaghat, Sehore and Bhopal, the
report said.

The report also alleged that the couple purchased 25
flats of which 18 are in Guwahati, six in Bhopal and one in
New Delhi.

Papers about seven plots at Patel Nagar have also been
recovered from their possession, it said.

The report also claimed that Arvind Joshi had allegedly
indulged in speculative trading in shares, futures and options
to the tune of Rs 270 crore in the last three years.

PTI



First Published: Wednesday, January 19, 2011 - 16:14

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