Swc Papers Point To Md Hand In Real Estate Deals

The discovery was made after initial scrutiny of the documents seized during the searches of the offices and residence of the managing director.

Meanwhile, another key executive of the company, Pradip Mathur, returned here yesterday after a trip abroad.

Mathur informed the authorities of his arrival as his house was sealed and under surveillance.

Officials are yet to break open the seal of a few more cupboards in the Wallace House, the company's headquarters, where vital documents are believed to be stored.

This will take some time as the occupants of these rooms are not here at present. We are sure to come across a lot more evidence against the company.

 

This could turn out to be one of the landmark cases of search and seizures in the country, said a source.

Meanwhile seizure operations at the Aurangabad-based subsidiary, Maharashtra Distilleries, are in full swing. Officers from Calcutta are being sent to assist their counterparts in Pune.

Although the case is being solely investigated by the Income Tax department at the moment, the Directorate of Revenue Intelligence, the Enforcement Directorate and the Department of Company Affairs are likely to join in the probe soon.

We would definitely welcome a co-ordinated investigation.

We expect the Department of Company Affairs to ask us to submit a report on our findings, said a senior Income Tax official.