Income Tax Department Conducts Extensive Searches on Vasant Gajera's Premises Over Alleged Choksi Links
The Investigation wing of the Income Tax department in Surat executed coordinated searches on approximately 30 premises connected to diamond and real estate magnate Vasant Gajera and his sister concern firms on Wednesday. This significant operation involved over 110 officials who meticulously combed through various locations, resulting in the seizure of numerous incriminating documents from the premises.
Business Links with Fugitive Mehul Choksi Trigger Raids
According to sources within the department, these searches were initiated after officials uncovered alleged business links between Vasant Gajera and fugitive offender Mehul Choksi. Choksi is centrally implicated in the massive Rs 12,600-crore fraud at Punjab National Bank, which has been one of India's most high-profile financial scandals in recent years.
In a parallel development, similar raids were conducted on the premises of Girdhar Gajera, Vasant's younger brother, in Mumbai. This indicates the investigation's broad scope targeting multiple family members and their associated business entities.
Historical Context: Previous Chargesheet and Legal Proceedings
The current I-T department action follows earlier legal developments in this complex case. Back in 2020, the Enforcement Directorate filed a chargesheet naming Mehul Choksi of the Gitanjali Group as the prime accused, with Vasant Gajera and his firm, Laxmi Infra Developer Ltd, listed as co-accused. This chargesheet specifically alleged their involvement in defrauding Punjab National Bank to the tune of Rs 7,080 crore.
This legal document was submitted to a Mumbai court subsequent to the Central Bureau of Investigation's case against the accused parties in 2018, establishing a pattern of ongoing scrutiny by multiple investigative agencies.
Political Connections and Family Network
Vasant Gajera is the younger brother of Dhiru Gajera, a former Member of Legislative Assembly who has had political affiliations with both the BJP and Congress parties. Dhiru Gajera most recently returned to the BJP fold in 2021, adding a political dimension to the business investigations.
The searches extended beyond Vasant Gajera's immediate premises to include locations connected to his brothers Chuni Gajera and Ashok Gajera, along with their sister concern firms. This comprehensive approach suggests investigators are examining the entire family business network for potential irregularities.
Operational Details and Duration
The extensive search operation continued until late evening on Wednesday, demonstrating the thoroughness of the investigation. The involvement of over 110 officials across multiple locations in Surat and Mumbai represents one of the more significant coordinated actions by the Income Tax department in recent times targeting business entities with alleged connections to high-profile financial fraud cases.
This development comes as Indian authorities continue their pursuit of individuals connected to the Punjab National Bank fraud, which has had far-reaching implications for India's banking sector and regulatory framework.
