An income tax raid on the premises of a leading road contractor associated with the National Highways Authority of India (NHAI) in Meerut has uncovered a staggering trail of undisclosed wealth. Authorities reportedly seized large quantities of cash, gold, and diamond jewellery during the operation that lasted over 18 hours.
Acting on intelligence inputs and suspicious transaction records, multiple teams from the Income Tax Department swooped down early Monday morning on the contractor’s house located in a posh colony of Meerut city. The search extended to his business premises and those of his close associates, reportedly in connection with suspicious financial activities and non-disclosure of high-value contracts.
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Suitcases of Cash, Lockers of Gold: Taxman Uncovers Hidden Empire
According to preliminary reports, the department has recovered multiple crores in unaccounted cash, as well as kilograms of gold and diamond-studded ornaments, all allegedly stashed without declaration. Unofficial sources suggest the assets may be linked to kickbacks from high-value government contracts under NHAI and local infrastructure tenders.
Electronic devices, including laptops and hard drives, were also seized for forensic auditing. Parallel records retrieved during the raids point to benami properties and shell firm transactions, indicating possible tax evasion and money laundering. An I-T official, speaking on condition of anonymity, said, “The magnitude of unaccounted assets uncovered so far hints at systematic concealment over several years.”
Official Contracts Under Lens
The contractor, a prominent figure in the local infrastructure circuit, had reportedly bagged several high-value tenders in recent years, particularly for national highway construction and maintenance projects. Investigators are now examining the legitimacy of those deals, invoice discrepancies, and whether black money was being recycled through related entities.
No official arrest has been made so far, but sources confirm that a detailed investigation is underway. Authorities have sealed certain documents and accounts, and further scrutiny is expected in collaboration with the Enforcement Directorate (ED) and GST Intelligence Unit, given the scale of financial irregularities suspected.