Who Are The Owners Of Dhanera Diamonds And Bhavana Gems Being Probed In Rs 1,700 Cr Scam?

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In raids across multiple locations, related to Dhanera Diamonds and Bhavana Gems, the I-T Department seized cash and jewellery worth Rs 15 crore and land documents of benami deals allegedly worth Rs 1,700 crore.

The Income Tax (I-T) department has been conducting raids at the premises of two diamond firms, Dhanera Diamonds and Bhavna Gems, and the real-estate firms linked to them that are allegedly involved in a land scam. So far, the I-T department has recovered cash and jewellery worth Rs 15 crore and land documents of benami deals reportedly worth Rs 1,700 crore.

Officials have been quoted as saying that the total figure may go up to as much as Rs 2,000 crore by the end of the operation. The raids were first conducted on December 2 as part of a probe into the Rs 200-crore land deal in Surat’s Vesu area for the construction of a hospital. The firms raided were allegedly involved in the purchase of the huge land parcel.

The two companies came under the lens after the I-T department seized unaccounted cash and jewellery in a raid at 30 different locations in Surat and Mumbai. The raids continued until Monday at 10 more locations. The raids were slowed temporarily on account of the assembly elections in Gujarat.

Who are the owners of Dhanera Diamonds and Bhavna Gems?

Dhanera Diamonds is owned and operated by brothers Arvind Ajbani, Vinod Ajbani, Shailesh Ajbani and Arvind’s son Sunny. Arvind and Sunny manage the diamond trading office at Mahidharpura, while Vinod and Shailesh are in charge of the office at Bandra Kurla Complex in Mumbai.

The Ajbanis hail from Banaskantha’s Dhanera, and their family migrated to Surat and to enter diamonds trading business. Initially, the company sold cut and polished diamonds. Later, the group expanded their business to Mumbai and started exporting diamonds.

Bhavna Gems, which is involved in diamond cutting has a manufacturing unit in Katargam, which is run by Ashok Sojitra and Babu Sojitra. They are natives of Amreli district in Saurashtra region, and settled in Surat in 2015. Their business started with a small unit, and they expanded production to a factory. Bhavna Gems also exports polished diamonds.

Note: CNBCTV18.com could not verify the reports on the raids.

(Edited by : Jerome Anthony)

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