Unity Construction raid yields Rs 10 cr

MUMBAI, DEC 1: In a big catch, Income-Tax sleuths got an admission ofconcealed income to the tune of Rs 10 cr from Unity Constructions, M...

MUMBAI, DEC 1: In a big catch, Income-Tax sleuths got an admission ofconcealed income to the tune of Rs 10 cr from Unity Constructions, Mumbai,in raids on Monday. Two other companies were also raided, yielding a totaldisclosure of over Rs 12 cr. Official sources in the investigation wing ofIncome Tax refused to divulge names or identify Unity either.

The admission by Unity, however, is one of the largest this year.The others raided were National Refineries and Narondas Manohardas, goldrefiners. In all, 22 premises were raided, including residential. Seven ofthese belong to Unity Constructions.

The rise of Unity Constructions coincided with the Shiv Sena-BharatiyaJanata Party’s ascent to power in Maharashtra in 1995. Unity is learnt tohave charged only a token Re one for renovation of Sena chief BalThackeray’s Bandra residence, Matoshri.

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Unity Constructions bagged the contract for the Dadar (Khodadad Circle)flyover, and the Brihanmumbai Municipal Corporation’s proposed cancerHospital in Marol. The recently completed Chhatrapati Shivaji Terminussubway was constructed by Unity. Unity has also recently completed thehousing projects of MHADA in Oshiwara and Majaswadi, Jogeshwari.

In all, 43 lockers were sealed after the raids. While Rs 40 lakhs in cashwere seized from Unity, Rs 30 lakhs were seized from Narondas Manohardas.