New Delhi The Income-Tax department has carried out searches at the Sainik Farm bungalow of a Delhi-based businessman and his offices in South Extension-I. Documents relating to foreign bank accounts were found in an SUV parked at the bungalow.
Sources claimed that energy consultant Satish Sawhney, who operates both in India and abroad, disclosed and surrendered Rs 73 crore to the I-T department and gave details of unaccounted money stashed in banks in the US, Switzerland and Singapore.
Sawhney is currently under preventive detention of the I-T department.
The searches were conducted by the recently-formed Directorate of Criminal Investigation (DCI), sources said, adding that the department had been tracking Sawhney for a month now.
The I-T team found that he had five foreign bank accounts — one each in Zurich and Singapore and three in the US — and eight almirah-sized lockers in three banks in Delhi.
Sources said it is suspected that these lockers contain documents which may shed light on his financial operations. The lockers have been sealed by the I-T department. These accounts, the sources claimed, were not reflected in his tax returns.
During the search operation, the department seized jewellery worth Rs 1.5 crore and cash worth Rs 18 lakh, the sources said. “The accounts he has abroad have no link to the list obtained from other countries,” the sources said.
The department suspects that the accounts in Singapore hold “maximum information” and “we have written to the Central Board of Direct Taxes to get more information… find out how much money is there in these accounts, the number of transactions that have taken place,” the sources said.