Raid at Surat's Bhajiyawala continues, officials seize 2.67 kg gold

The search and survey operation, carried out by the Directorate of Investigation (DI) wing of the Surat Income Tax Department, is expected to continue for a few more days.

Raid at Surat

In the continued raid on Surat financier Kishor Bhajiyawala, Income Tax officials seized gold ornaments worth Rs 2.67 crore from the locker of Bhajiyawala’s dummy account in Surat People’s Co-operative Bank on Saturday.

However, Enforcement Directorate (ED) will also join the probe.

According to the reports, Bhajiyawala deposited Rs 1.5 cr in the banks after the note ban and since then has been under the scrutiny of Income Tax officials. Since the raids which started on December 13, the Income Tax officials have seized gold ornaments worth Rs 9.67 crore from Bhajiyawala’s lockers.


The I-T sleuths conducted raids at his residence, offices and bank lockers. During the investigation, they recovered property documents, details about 16 bank lockers and 27 accounts. Out of these 16 lockers, eight have already been searched wherein 13 kg of gold, 1 kg of silver and 1 kg of diamond studded jewellery have been found.

The search and survey operation, carried out by the Directorate of Investigation (DI) wing of the Surat Income Tax Department, is expected to continue for a few more days.

The I-T officials found that apart from the bank lockers registered in his name, Bhajiyawala used to operate many other lockers. The officials checked one of the lockers operated by Bhajiyawala and found 2 kg gold ornaments worth Rs 2.67 crore.



The I-T officials also carried out searches at the old jewelery shop in Bhagatalo area in Surat owned by Bhajiyawala. They seized several land-related documents from there. Bhajiyawala never used to give this shop on rent and it has been closed for long.

The officials suspect that Bhajiyawala could have opened new bank accounts and deposited cash in them. The I-T officials have started verifying such accounts.

In Chandigarh, the ED recovered about Rs 30 lakh cash and 2.5 kg gold from the premises of a tailor. The seizure came three days after ED officials recovered Rs 2.19 crore cash from a cloth merchant.

Story by