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Builder-babu nexus at ground zero of huge gold, cash haul

The New Indian Express Kalaburagi

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December 25, 2024

RECENT income tax department searches have revealed a nexus of builders and influential people, including politicians and officials, that parks unaccounted money in land purchases in villages on the outskirts of MP's Bhopal, officials linked to probe said.

- ANURAAG SINGH @ Bhopal

Mendori village near Bhopal has been in the news since December 20 after the recovery of 52 kg unaccounted gold bullion and ₹11 crore cash from an MUV. The seizures came amid searches at nearly 50 premises of big builders and real estate businessmen.

"Builders have been purchasing land from farmers for developing residential colonies and then selling the land to powerful people of MP and adjoining states," an official privy to the probe told this newspaper on Tuesday.

PLUS D'HISTOIRES DE The New Indian Express Kalaburagi

The New Indian Express Kalaburagi

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PM terms Tamil as 'pride of India' in Mann ki Baat, urges people to learn it

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WHAT TO EXPECT WHEN INVESTING IN 2026

THE year is ending on a high note. The recent quarterly growth data shows a second successive quarter of over 8% economic growth. Benchmark indices such as the NSE Nifty and the BSE Sensex have reached new highs. The September 2025 quarter results showed a recovery in corporate profits after a long time. Overall, the year is ending on a high note.

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37 more Maoists surrender in Chhattisgarh

THIRTY-seven Naxalites, 27 of them collectively carrying a reward of %65 lakh, surrendered in Chhattisgarh’s Dantewada on Sunday, police said.

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GIFT City now manages $100 billion in assets

GIFT City’s International Financial Services Centre (IFSC) now hosts over 1,034 registered entities, including 38 banks holding assets worth $100.14 billion, positioning it as a growing competitor to established financial hubs, such as Singapore and Hong Kong.

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SHOULD WE INVEST IN INDIAN EQUITIES

FOR a long-term investment horizon, yes, Indian equities remain one of the most compelling long-term opportunities among major economies even as today.

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BJP dismisses claims as 'baseless, false'

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