On Saturday morning, Income Tax Department (I-T) raided over 50 premises belonging to a leading auto spare parts manufacturer in National Capital Region (NCR). During the raids, the I-T officials recovered cash worth Rs 7 crore. According to sources, the searches were carried out at offices and properties of the Jai Bharat Maruti Group across Delhi, Harayana’s Gurugram and Faridabad and Uttar Pradesh’s Ghaziabad. Apart from manufacturing, the Jai Bharat Maruti Group also supplies spare part to firms like Maruti Suzuki and Ashok Leyland. SK Arya is company’s Chairman and managing director.

According to the reports, apart from cash recovery, the I-T sleuths also found three kg of gold from hidden cavities and toilets. Jai Bharat Group, an auto manufacturing company, is one of the biggest suppliers to Maruti and Ashok Leyland. According to a news agency, the raids are underway since Thursday.

According to the website of the leading spare parts manufacturer, Jai Bharat Maruti Group (JBM) — it serves in the field of automotive, engineering & design services, renewable energy, and education sectors and has an infrastructure of 35 manufacturing plants, 4 engineering & design centres across 18 locations globally with a turnover of USD 1.2 billion. JBM group is a tier- 1 supplier to the automotive OEM industry with clients like Ashok Leyland, Bajaj Auto Ltd, Fiat, Ford, General Motors Corporation, Honda, Hero, JCB, Mahindra, Maruti Suzuki, Renault, Nissan, TATA, Toyota, TVS, Volvo-Eicher, and Volkswagen.

Earlier this month, the Income Tax department has listed names of seven Lok Sabha MPs and 98 MLAs from different states whose assets have increased exponentially over the years. Central Board of Direct Taxes (CBDT) on Monday informed the same to the Supreme Court during a hearing. The CBDT also told the Supreme Court that it would provide the names of the MPs and MLAs in a sealed cover.

First Published | 7 October 2017 3:06 PM
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