Income Tax officers seize Dilip Buildcon records:Two-day search conducted in Bhopal and Indore offices, probe linked to Mumbai broker’s share-trading activities

The Income Tax (IT) department has concluded its operation at the offices of Dilip Buildcon in Bhopal. Officers from the Amritsar wing seized account registers and other crucial documents, which will now be analyzed to finalize the company’s alleged tax evasion. Similar searches were also conducted at the company’s Indore offices. Two-day search operation The search operation, which began on Monday, was carried out at two locations linked to Dilip Buildcon. The IT team suspected large-scale tax manipulation, particularly in share trading activities connected to a Mumbai-based broker. However, the officials did not uncover the scale of discrepancies they had initially anticipated. The Bhopal office search concluded on Tuesday night around 11 PM. The IT team discovered minor irregularities totaling approximately Rs 2–2.5 crore in a share-trading company connected to Dilip Buildcon. While some involvement of Dilip Buildcon was identified, a complete verification of his role is still pending. Minimal cash found during raids Officers found only a limited amount of cash in the offices. The documents seized, including account registers, will be analyzed thoroughly by the IT department to assess potential tax evasion. Officials noted that the anticipated large-scale irregularities in Madhya Pradesh-based companies were not fully detected. Raid linked to Mumbai broker The raids were triggered based on information linking Dilip Buildcon to a Mumbai broker involved in a share-trading company in Amritsar. This company had allegedly manipulated shares worth crores, prompting the IT department to investigate Dilip Buildcon’s possible involvement. Secrecy maintained during operation The searches were conducted with a high level of confidentiality. While a few officials attempted to inquire about the ongoing operation, there was no political interference in the investigation. Company not informed prior to action Dilip Buildcon reportedly was not informed about the reason for the IT raids. The company stated that they are awaiting clarity on whether the operation relates to them directly. Major projects under Dilip Buildcon Owner among MP’s richest According to the latest Hurun Rich List, Dilip Suryavanshi, owner of Dilip Buildcon, is the second richest businessman in Madhya Pradesh, with assets totaling Rs 4,430 crore, an increase of Rs 630 crore from previous assessments.