360-crore wealth seized from Arvind and Tinu Joshi during raids
The Income Tax Department claims to have detected wealth valued at a whopping Rs.360 crore from the suspended Madhya Pradesh IAS couple Arvind Joshi and Tinu Joshi disproportionate to their known sources of income.
Departmental sources said here on Wednesday that the biggest amount of ill-gotten money probably detected from any IAS officer in the country was unearthed following several Income Tax raids on the premises of the duo.
The first raid on February 4 last had yielded Rs.3 crore and a number of documents about their alleged unaccounted investments, the department claimed.
Jewellery worth Rs.67 lakh and foreign currency worth Rs.7 lakh were also recovered during the raids, the department claimed. The raids were carried out following complaints that the officers had allegedly made huge investments in an insurance company.
In a 7,000-page appraisal report submitted to Madhya Pradesh Chief Secretary Avni Vaish and Lokayukta P. V. Naolekar, the department has given details of investments made by the Joshis.
Both Arvind and Tinu, who are 1979 batch IAS officers of the Madhya Pradesh cadre, have held important positions at the Centre since the late 1980s. Tinu served as Deputy Secretary in the Prime Minister's Office from July 1, 1988, to January 1, 1990, while Arvind was Joint Secretary in the Defence Ministry during the 1999 Kargil hostilities.
As per the report, the two have made investments in a number of areas ranging from agriculture to real estate and stock market.
The couple bought agricultural or non-agricultural land at a number of places including Kanha and Bandhavgarh national parks, Raisen, Balaghat, Sehore and Bhopal, the report said.
It also alleged that the couple purchased 25 flats of which 18 are in Guwahati, six in Bhopal and one in New Delhi. Papers about seven plots at Patel Nagar have also been recovered from their possession, it said.
The report also claimed that Arvind had allegedly indulged in speculative trading in shares, futures and options amounting to Rs.270 crore in the past three years. - PTI