Hyderabad: The Central GST Intelligence wing on Friday carried out a slew of raids on the Heera Group.
Seven teams of officials from the Directorate General of GST Intelligence, Hyderabad zone, raided HS Residency at Nadeem Colony, Tolichowki, and sealed 20 flats.
Searches were conducted at Heera Foodex in Moinabad, Mannan Engineering College in Mannagudda, the head office of the Heera group in Banjara Hills, Afia Plaza in Masab Tank, and a commercial complex in Kukatpally.
So, in addition to the 20 flats in Tolichowki, the officials also sealed 10 shops in Masab Tank and a shopping mall in Kukatpally.
Investigators found that approximately 10 acres of land worth `200 crore were purchased by the Heera Group under different names.
The raids and searches were meant to investigate certain documents, records, and stocks related to central excise, service tax, and GST evasion that were kept hidden in the premises which were in focus on Friday.
Searches were also conducted at the shops of the victims whom the Heera group had defrauded. A member of the Heera Group Victims Association said that the victims co-operated with the GST sleuths in the searches. He alleged that the Heera group had purchased 15 shops in Banjara Hills and had used them to borrow money from Indian Overseas Bank and Corporation Bank. When the group defaulted, however, the banks seized the prime properties and put them up for sale, he claimed.
Officials of the Directorate General of GST Intelligence, Hyderabad zone, tried to search the premises of Heera Retail (Hyderabad) Private Limited, Heera Palace, and Afia Plaza at NMDC crossroads. The premises were found to be locked and the owners could not be traced.
The Heera Group is caught in a web of investigations that are being carried out by various agencies. The case is currently being investigated by the Enforcement Directorate. Heera Group chief Nowhera Shaik is currently housed in a city jail with cases from several states booked against him....