Central GST Team Recovers Rs. 5 Crore from Bareilly Industrialists Tarun and Varun Agarwal:

Central GST Team Recovers Rs. 5 Crore from Bareilly Industrialists Tarun and Varun Agarwal The Central GST (SIB) department's team raided the homes of factory owners Tarun Agarwal and Varun Agarwal in Bareilly. Both of them are residents of Shastri Nagar. After investigation, five crore rupees in cash was recovered from the home. The SIB department's team further called the Income Tax Department and locked the gates and began investigating payment records. However, due to huge numbers of notes, a counting machine was also called in.

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In Parsakheda, a businessman who runs an electronics and mattress factory and also exports goods outside Bareilly is under investigation. The Central GST team had been monitoring his firm for some time and found irregularities in the payment records. On the afternoon of the raid, the team visited his home and found Rs. 5 crore in cash. Further, the teams also questioned the brothers and asked for the cash accounts and documents from the businessman. After considering the action, Anil Agarwal, state minister of the Confederation of Indian Industry and Trade and other businessmen arrived at the scene and had a conversation with the team. Officials said they will speak about it only after the investigation is finished.

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There was panic among the big businessmen of the city after the central GST raid on the houses of businessmen Tarun and Varun Agarwal. All businessmen kept calling each other to get information. After discovering the large amount of cash, the Income Tax Department passed the cash found at the businessman's house to the bank. While, the laptop and other documents have been sealed. The investigation will be also be held on Wednesday. Traders added that, apart from the factory, the businessman also has a shop near the roadways where they sell the factory-made goods. Because of the huge business, the businessman owns multiple warehouses in several locations. The GST team has currently raided only his home and said if necessary they will also raid the factory and the shops. [related id="398315 "] Meanwhile, a rumour spread that two kilograms of gold were found at the businessman’s house last night. People started calling each other to find out more, but the gold finding could not be confirmed. After cash was found at the businessman’s place, the Income Tax Department arrived there. Because there was a large amount of cash, they brought a machine to count it. However, the counting had to be stopped for a while when the machine overheated.