Bhopal, Dec 8, : On Wednesday, the Income Tax (I–T) department conducted raids at various locations of Sagar Group in Bhopal as well as Indore. Sagar Group, a huge real estate company, also runs schools and factories in Madhya Pradesh.
I-T officials reached Sanjeev Agrawal, owner of Sagar Group, at his office in Bhopal’s MP Nagar district.A large police force was also deployed outside.
Sources in the I-T department said that raids are being held at more than a dozen premises in Bhopal, Indore and other locations in Bhopal for an alleged tax evasion.
Since early morning, the entry gates to Agrawal’s office and residence have been closed.
The group has been involved with real estate for over two decades in various parts of the state.In the last few years, it has also established schools such as Sage University and Sagar Public School in Bhopal.
The group also owns two factories in Raisen.
Sanjeev Agrawal, the owner of the Sagar Group, has been seen on stage with many big politicians from the Bharatiya Janata Party BJP and the Congress in Madhya Pradesh.
In 2011, the Income Tax department conducted raids at the offices, construction sites, and homes of top officials of the Group in Bhopal in an attempt to uncover tax evasion.Ten locations belonging to the Sagar Group were searched across the state capital.
The estimated net worth of the business group is Rs 300 crore.It is involved in education, real estate, and industries.
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