Income Tax Department Launches Major Search Action Against BR Goyal Group
The BR Goyal Group, a well-known construction company based in Indore, Madhya Pradesh, has come under the scanner of the Income Tax Department for the third time.
Search Action Conducted at Five Locations
On Friday, sleuths of the Income Tax Department's investigation wing launched a major search action at five locations from early morning, with the epicentre of the operation being the group's head office on Sapna-Sangeeta Road.
- The group's headquarters on Sapna-Sangeeta Road
- Their premises at BicholiHapsi
- Associate KG Gupta's office
- Construction firm Bindal Developers in village Kannod, Dewas district
- A city-based steel company linked to the group
Reason Behind the Search Action
According to sources, officials received inputs about alleged transfer of funds through illegal channels, commonly referred to as the hawala network.
Previous Actions Against the Group
The Income Tax Department had earlier conducted a full-fledged action against the group around 10 years ago, followed by a survey about five years ago.
About BR Goyal Group
The BRG Group is a prominent construction company with a strong presence across the state. They are active in road and flyover construction along with real estate projects.
- Developed several townships
- Involved in land dealings
- Constructed the Inter-State Bus Terminal (ISBT) at Kumedi on MR-10, built at a cost of Rs 100 crore
- Executes major road and flyover projects for Indore Municipal Corporation (IMC), Indore Development Authority (IDA), Public Works Department (PWD) and National Highways Authority of India (NHAI), including toll roads
- Major supplier of Ready-Mix Concrete (RMC)
Other Notable Projects
The group has developed the BRG Hill View residential project in the Ralamandal area and has undertaken several commercial and industrial projects at different locations.