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Rs 44 cr cash, 90 kg gold, Rs 20 cr worth US dollars seized in I-T raids on properties linked to spiritual guru Kalki Bhagwan

The notice also stated that key employees were making records of cash collections that were kept outside the accounts for making other investments and 'also for paying for properties over and above documented values.'

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The Income Tax (I-T) Department seized Rs 44 crore in cash, Rs 20 crore worth US dollars and 90 kgs of gold during the search conducted on at least forty properties of 'White Lotus' owned by the son of Wellness Guru, Kalki Bhagwan in Chennai, Hyderabad, Bengaluru, Chittoor and Kuppam on October 16.

A press release by the Ministry of Finance stated that the 'White Lotus' group founded by Kalki Bhagwan suppressed 'receipts which are ploughed into investment in huge tracts of landed property in Andhra Pradesh and Tamil Nadu and also in investments abroad.' The IT department estimates the unaccounted cash receipts to be of Rs 409 crore.

The notice also stated that key employees were making records of cash collections that were kept outside the accounts for making other investments and 'also for paying for properties over and above documented values.'

The IT department also seized US currencies worth Rs 18 crore and diamonds amounting to 1271 carats valued approximately at about Rs 5 crore.

The total seizure of the IT department is valued to be approximately Rs 93 crore. The undisclosed income of the group is estimated to be more than Rs 500 crore.

The 'White Lotus' is a conglomerate of trusts and companies that run year-round wellness courses and training programmes in philosophy, spirituality, etc at various residential campuses in Andhra Pradesh, Chennai, and Bangalore.

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