During Surat raids, benami deals worth $1,700 million were discovered, and money and jewellery were taken

In searches on Dhanera Diamonds, Bhavna Gems, and the real estate companies affiliated with the corporations, the Income-Tax (I-T) division has so far retrieved cash and jewellery worth Rs 15 crore. The raids persisted at 10 locations until the fourth day of Monday.
According to sources, during the raids that revealed the benami agreements between the diamond enterprises and the real estate market, land and business records worth Rs 1,700 crore were seized. However, according to officials, after the operation is all said and done, the amount might increase to as high as Rs 2000 crore. 
 Under the direction of Vibhor Badoni, Additional Director of Investigation of Surat I-T, search activities were conducted over 30 locations in Surat and Mumbai beginning on December 2.
According to sources in the I-T division, Dhanera Diamonds only kept track of about 30% of their operations, with the remainder being stored in covert records at a secretly rented office space in Mahidharpura. One of Dhanera’s proprietors, Arvind Shah (Ajbani), is in charge of keeping the office and the records, which are updated once each week.
During the raids, a Bhavna Gems office that was comparable was also discovered. In Katargam, the business kept its benami records in a small electrical shop next to its plant. Records from both companies over the last 15 to 17 years have been taken by the officials.
They also seized digital data from Naresh Shah, Ramesh Vaghasiya, and Kader Kothmiru2014the real estate players connected to the diamond firmsu2014as well as documents pertaining to land, bank lockers, and those individuals. According to sources, Naresh Shah also oversees non-banking finance businesses (NBFCs) and has substantial real estate holdings.
According to the records that were recovered, the authorities discovered that Naresh and Vaghasiya used to routinely receive money from the diamond businessmen to be used for the real estate market.The people in issue have ties to BJP politicians, according to police and local sources. According to an I-T official who spoke on the record under the condition of anonymity, the teams monitored the firms’ daily operations after receiving intelligence input for around two months before conducting search drives. Vehicles with on election duty badges carried the officials when they arrived at the locations of the raids.