The Income Tax (I-T) Department has traced nearly 50 secret bank accounts of Nirav Modi and Mehul Choksi, outside India. These bank accounts are located at London, Hong Kong, UAE, Morocco and few tax haven countries.
Senior official of I-T department confirmed Indiatoday.in that around 50 secret bank accounts were under probe. "Out of these numbers, 40 bank accounts is managed by Nirav Modi and nearly 8-10 bank accounts are opened by Mehul Choksi," the official said.
According to the agency, details of these hidden bank accounts were never shared by Modi and Choksi to the department, while filing their income tax returns.
Currently, the I-T Department is investigating - bank accounts or any other investment in companies or any other shareholdings or any foreign assets which has not been disclosed to tax officials by both accused.
The challenge remains, the taxmen have no idea how much money is lying in these fifty secret bank accounts.
"It is a subject of investigation. As we get information regarding the specific numbers lying in these bank accounts, Letter Rogatory (LRs) are getting issued to these countries - seeking more evidences against both," the official told Indiatoday.in.
On Wednesday, India Today reported that on the request of I-T department, the Mumbai Metropolitan Court had issued a LR to United Kingdom to restrain the balance money lying in one secret bank account at Barclays PLC, London, owned by Nirav Modi.
Investigative agencies have confirmed that Modi and Choksi have created more than 1000 bank accounts to divert bank's loan amount. These accounts were opened in the name of shell companies, managed by both diamantaires.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today