CALCUTTA, Dec 23: The investigative wing of the income-tax (I-T) department, in the course of a raid in the city, has stumbled upon a diary containing names of more than 100 individuals who have parked undeclared funds worth more than Rs 30 crore through a finance broker.

SC Misra, director (general) of investigation in the department, said the individuals whose names appeared in the diary were associated with top corporates of Calcutta. He said last Thursday the department raided the establishments of a Calcutta-based textile group belonging to SK Hada. Nine premises of the group were raided in Calcutta, Delhi and Ahmedabad.

Along with the textile group a finance broker Govind Kedia was also searched. The I-T department found cash amounting to Rs 15.50 lakh and the diary with the names. I-T sources confirmed Kedia was involved in the financial brokering and had lent out the money to 72 other people. I-T authorities are going through the names in the diary and sifting through the available evidence. Misra refused to make the names public since the department would have to undertake more investigations and verify the findings. The department was also busy last week raiding the premises of a clearing & forwarding (C&F) agent and two transporters. The C&F agent is involved in consumer and pharmaceutical products.Eight premises were searched and Rs 1 lakh in cash and Rs 10.15 lakh worth of jewellery were seized.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.