Unaccounted wealth amounting to Rs 137 crore was seized by the Income Tax Department during a four-day raid operation at 23 locations in Rajasthan and Mumbai connected to Udaipur-based transport businessman Tikam Singh Rao.
The raids started on November 28 and concluded on December 1, said officials.
The seizure includes cash worth Rs 4 crore and 50 kg of gold, of which 45 kg was undeclared, was also seized.
Officials said, "The Income Tax Department recently conducted raids across 23 locations connected to Tikam Singh Rao, a prominent transport businessman based in Udaipur. The operation targeted properties of Udaipur Golden Transport and Logistics, among other enterprises Rao is associated with. Authorities uncovered significant undisclosed assets, including Rs 4 crore in cash and gold. Preliminary assessments indicate an unaccounted income of over Rs 137 crore, although the investigation is ongoing to determine the total scale of undisclosed wealth.
The raids involved multiple cities, including Udaipur, Jaipur, and Mumbai, with evidence such as documents pointing toward significant tax evasion across Rao's network of companies
Income Tax officials said this raid marks the largest gold recovery in Rajasthan to date. "The seized documents are currently under investigation. The action targeted properties linked to Tikam Singh Rao, owner of Udaipur Golden Transport Logistics Private Limited, and his younger brother Govind Singh Rao."
Officials revealed that Tikam Singh had primarily invested his unaccounted wealth in luxury cars, real estate, and the hotel industry. Evidence supporting these investments was also recovered, and the total amount of black money could increase after further analysis of the documents.
Detailing the findings, an Income Tax officer said, "We seized 45 kg of gold in the raids, valued at approximately Rs 38 crore." The raids extended to properties in Udaipur, Jaipur, Banswara, Mumbai, and Ahmedabad, and properties included offices, residences, farmhouses and resorts.
On November 29, the second day of the raid, 25 kg of gold and Rs 3 crore in cash were recovered from Tikam Singh's Udaipur residence. By November 30, after opening seven bank lockers, another 25 kg of gold and Rs 2 crore in cash were seized. In total, 50 kg of gold and Rs 5 crore in cash were recovered, with only 5 kg of gold and Rs 1 crore being part of declared income.
This action was started on the morning of November 28 under the direction of Awadhesh Kumar, Principal Director of the Income Tax Department, Jaipur. More than 250 officers and employees were engaged in this operation, said officials.
Pawan Khera condemns Pahalgam terror attack, urges govt to call all-party meeting
Congress spokesperson Pawan Khera strongly condemned the terror attack on tourists in Pahalgam, Jammu and Kashmir, and called on the government to take immediate action.
‘We share grief of families’: Maha CM condemns Pahalgam cowardly attack
Maharashtra Chief Minister Devendra Fadnavis strongly condemned the cowardly terrorist attack in Pahalgam. He said that his government is in touch with the Jammu and Kashmir administration to get updates about tourists from the state injured in the attack.
'Go tell this to Modi', attacker told me after killing my husband: Pahalgam attack survivor shares story
Pallavi, the tourist who lost her husband Manjunath in the terrorist attack on tourists in Pahalgam, Kashmir, shared her harrowing experience on Tuesday.
QR codes for Flora launched to help students learn more about biodiversity
Chief Minister Dr Manik Saha on Tuesday launched a QR code for Flora, which is designed to provide detailed information about each plant, helping students learn more about biodiversity and promoting awareness about ecological conservation.
MP Biplab Kumar Deb meets Ashwini Vaishnaw over enhancing railway connectivity in Tripura
MP for West Tripura parliamentary constituency Biplab Kumar Deb on Tuesday met the Union railway minister Ashwini Vaishaw in Delhi and discussed the issues related to enhancing the railway connectivity in Tripura.
Youth Cong protests over fire service recruitment cancellation
A protest led by the Youth Congress turned tense on Monday as party members clashed with police over the recent cancellation of the recruitment process for fireman and driver posts under the Tripura Fire Service.
Five human traffickers arrested in Tripura
In a significant crackdown on human trafficking, the Government Railway Police (GRP), in coordination with the Border Security Force (BSF) and Tripura Police, arrested five alleged human traffickers from three localities in West Tripura district early Monday morning.
‘They will not be spared’: PM Modi strongly condemns terror attack on tourists in Kashmir’s Pahalgam
Prime Minister Narendra Modi has strongly condemned the terror attack in Jammu and Kashmir’s picturesque Pahalgam hill station, vowing that those responsible for the “heinous act” will be brought to justice.