Income Tax officials on Tuesday conducted raids on various branches of Lokamanya Multipurpose Co Operative Society Limited located in Karnataka , Maharashtra and Goa and seized several documents.
The officials also raided the house of Kiran Thakur the founder chairman of Lokamanya Multipurpose Co operative Society and also the Belgaum office of `Tarun Bharat’ a Marathi news paper which is owned by Thakur.
Sources said that the officials have recovered various documents related to purchase of properties in the name of Society as well as in the name of persons.
Several lockers belonging to Lokamanya Multipurpose Co operative society have been seized. A official said , though the society is not registered as a bank , it was working as a bank.
Around 20 teams with about 100 officials raided the offices and house at the same time around 10.15 AM.
Joint commissioner Manjit Singh was leading the Income tax team. The TOI reports that IT officials took Kiran Thakur into custody and are conducting an inquiry.
Source: New Indian Express and TOI