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‘Ponty was not tipped off, Rs 11 cr seized’

Last Updated: Thursday, February 16, 2012 - 15:53

New Delhi: The Income Tax department had
seized Rs eleven crore in cash, jewellery and fixed deposits
and sealed 13 bank lockers during the searches of the premises
of liquor baron Ponty Chadha a fortnight ago for alleged tax

"During the search held on February 1, cash of Rs 2.03
crore, jewellery and ornaments of the value of Rs 5.18 crore,
fixed deposits of Rs 4.4 crore and a large number of documents
were seized.

"Further, restraint orders on 13 bank lockers and two
other premises are pending. The search is yet to be
completed," Central Board of Direct Taxes (CBDT) spokesperson
Anuja Sarangi said in a statement today.

The CBDT, which is the administrative authority of the
I-T department, also denied reports Chadha, who has business
interests in real estate and liquor in Uttar Pradesh, Delhi
and Punjab, was tipped off about the searches.

"It has been reported in some sections of the media that
there has been a leak in a search case conducted recently by
the Income Tax department on a `liquor baron`. It is also
being reported in the media that CBDT has instituted an
inquiry into the matter.

"As the matter is still under investigation, these media
reports are without any factual basis and speculative," the
statement added.

Chadha had earlier denied seizure of Rs 100 crore by the
I-T from his Noida mall and has promised to extend full
cooperation to tax authorities in their probe of alleged tax
evasion in his various businesses.

I-T department had begun the operations on Chadha and
his associates on February 1, covering 13 locations in Delhi
including at the posh Sainik Farms, Lajpat Nagar, New Friends
Colony while in Uttar Pradesh, I-T teams comprising 200
officials, undertook similar operations at six locations in
Noida, Moradabad and state capital Lucknow.


First Published: Thursday, February 16, 2012 - 12:39

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