Chennai: The Income Tax department detected undisclosed income of more than Rs. 500 crore in multiple premises of firms and trusts founded by spiritual guru ”Kalki ” Bhagwan. The undisclosed income covers unaccounted cash receipts of about Rs. 409 crore.
A total of Rs. 43.9 crore in cash and US currency worth Rs. 18 crore were seized and the total value of seizure is about Rs. 93 crore, which includes gold and diamonds, a tax department official release said on Friday.
A string of 40 premises connected to a conglomerate of trusts and companies founded by the spiritual guru that ran “wellness courses” were searched on Wednesday. The searches, which are still in progress, has covered premises in Chennai, Hyderabad, Bangalore and Varadaiahpalem in Andhra Pradesh, which is near Tamil Nadu border.
The group, with interests in several sectors, including real estate, construction and sports in India and abroad, is presently managed and controlled by the spiritual leader who laid the foundation of the group, and his son.