For the fourth day, there have been raids on real estate businessmen in Udaipur. Teams are interrogating the Acme and Ankush Real Estate Group partners. The teams have so far discovered hidden assets in the investigation valued more than 150 crores. Along with that gold jewelry weighing more than 15 kg has also been recovered, although no legal documentation for it could be found and 3 new lockers have been found.
Various teams from different locations, including Jaipur, began raids on businessmen connected to Acme and Ankush Real Estate in Savina early on Wednesday, November 23.
As per information Inquiries are being held at more than 37 locations. The squads have interrogated every group member, even close associates. Income Tax inspectors searched a lot of areas, including farm houses and home offices. Lands of 100 crore bought by hawala money documents are also recovered during the inspection.
According to sources, a total 1000 crore to 1500 crore assets have been recovered during the inspection. IT team has also found more than 17 undisclosed lockers of Kalulal Jain and his associates and of various undisclosed properties of Pankaj Jain were also found. The number of lockers has also increased from 17 lockers to 20. On the other side, Nirmal Jain and Ramesh Jain are active at Udaipur with house loans.
In Savina, Nirmal owns the Acme Real Estate company. He owns all of the land in Nela. He has a long-running investment conflict with numerous others. According to information Nirmal and Ramesh invest money in the property through Kalulal Jain. This mutual conflict is ongoing as a result of consumers were not receiving their refunds on time. Along with Kalulal and Nirmal, Bhupendra Jain, a native of the Sarada region, is involved in significant property transactions. While Pakanj Jain does more business involving lands.