Income Tax confirms ‘benami’ status of assets worth ₹100 crore:Government to seize gold and cash from millionaire ex-RTO constable

The ₹100 crore worth of gold and cash recovered in connection with former RTO millionaire constable Saurabh Sharma and his associate Chetan Singh Gaur will now be deposited in the government treasury. The Adjudicating Authority of the Income Tax Department has upheld the action taken by the Benami Prohibition Unit (BPU) in Bhopal. The authority has declared Saurabh Sharma as the real owner of the gold. Saurabh Sharma had come into the spotlight in December 2024 when the Lokayukta, Enforcement Directorate, and Income Tax Department conducted raids at his properties. During the night of December 18–19 in Bhopal’s Mendori, the authorities seized ₹11 crore in cash and 51.8 kg of gold from an Innova car, which was linked to Saurabh Sharma. Following these seizures, a vast amount of Saurabh and his associates’ assets came to light. However, during questioning, Saurabh Sharma has not admitted that the gold and cash found in the Mendori Innova belonged to him. Saurabh, Chetan will get chance to appeal After the Adjudicating Authority validates the Benami Wing’s action, Saurabh Sharma and Chetan Singh Gaur now have the option to appeal. If they do, a decision will follow the hearing. If no appeal is filed within the stipulated period, the Government of India can proceed with auctioning the gold and cash to seize the assets. Provisional attachment was made in August 2025 The Bhopal-based Benami Prohibition Unit of the I-T Department had temporarily attached the gold, cash, and Innova vehicle under the PBPT Act, 1988 in August 2025. At the time, the total value was estimated at around ₹52 crore. According to investigating agencies, the current value of the seized gold and cash is now estimated at approximately ₹100 crore. Following the Adjudicating Authority’s ruling, the process of confiscating these assets will begin. Chetan Singh Gaur declared as benamidar The I-T Department has classified this transaction as a benami under Section 2(9)(A) of the PBPT Act. Chetan Singh Gaur is named the benamidar, while retired RTO constable Saurabh Sharma is identified as the real owner. Investigation of more than 32 properties ongoing The Income Tax Department is also investigating over 32 immovable properties and bank accounts linked to Saurabh Sharma, his associate Chetan Singh Gaur, Sharad Jaiswal, and their relatives. Separate decisions on these cases by the Adjudicating Authority are pending. Investigation conducted by 5 agencies including Income Tax Department In the case of former transport department constable Saurabh Sharma, the Enforcement Directorate (ED) is tracing money trails and property documents, the I-T Department is investigating 54 kg of gold and ₹11 crore found in the black Innova, and the Lokayukta is examining disproportionate assets. The Directorate of Revenue Intelligence (DRI) is checking whether the seized gold was legally acquired and whether black money was used in real estate development. The police are investigating Saurabh Sharma’s preferential postings.