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Raid on bizman’s Bowring Institute locker unearths Rs 3.90cr, property papers worth Rs 550cr, gold biscuits, and more

An increase in demand for sports lockers by its members at the Bowring Institute has led to one of the biggest Income Tax hauls of the year. Three lockers, which were being used by businessman and club member Avinash Amarlal Kukreja, were stashed with several property documents estimated to be of at least Rs 550crore, Rs 3.90crore in cash (Rs 3.73crore bundles of Rs 2,000 notes and Rs 17 lakh of Rs 500 notes), diamonds worth Rs 7.80 crore, 600gm of gold biscuits, 5 gold coins of 10gm each, four bracelets, two expensive Rolex and Piguet watches, estimated to cost anywhere between `35 and `40 lakh — all of which were discovered when the club authorities forcibly broke the lockers open.

Also found was an undated and blank chequebook, all signed, and several unnamed and undated cheque leaves for amounts between `5 crore and Rs 50 crore.

Following a complaint from some its members that many of them were not getting lockers, the institute’s management had on February 1, 2018 asked its members to register afresh.

The general secretary of Bowring Institute, HS Srikanth, told Bangalore Mirror that a notice was issued to about 120 members with July 16 as the final deadline. When members failed to turn up, a five-member team including a videographer were tasked with the job to break open the lockers that are located across the club, including the gym, swimming pool and badminton court areas. The club has 625 king-sized lockers, and when the team broke open lockers numbered 61, 71 and 70, inside the badminton court area, they found three backpacks stashed with bundles of notes, gold, dimaonds, and files. Apparently, Avinash Kukreja was using these lockers without permission from the club’s management. The lockers were fairly big, and had not been used at least for a year. Srikanth then informed Chandragupta, the Deputy Commissioner of Police (Central) who asked them to call the IT department as the total value of cash and other goods were high. Soon after, IT sleuths reached the institute, and instead of checking the money and other bullion, were more keen on going through the property documents.

Avinash’s Bangalore Club lockers get raided too

IT officials were informed that Avinash was often seen at Bangalore Club. When they investigated him, they came to know about his lockers there as well. But, when they tried to break them open, they were informed by the club’s management that it can be done only in the presence of the members. The officials then went back to Bangalore Club with Avinash, and opened the lockers. However, it is not clear what was found in them.

Keep the cash, says Avinash

Avinash, who had not responded to any of the reminders sent by the club, turned up immediately after his lockers were opened. “He came and fell at my feet, asking for the property files to be returned, but asked us to keep the cash,” Srikanth said. However, Avinash was handed over to the IT team, who later went on to raid his house and businesses. Srikanth also informed the Enforcement Directorate officials.

Incidentally, Avinash was raided in 2011 in connection with real estate transactions, during when the IT team had done extensive homework on his activities, and had discovered incriminating documents pertaining to tax evasion. Avinash is a member of many prestigious clubs, and has been a member of Bowring since 1993. His father, Amarlal Kukreja is one of the leading financiers in Bengaluru, and is said to have business interests in tyres and real estate, among others. He’s also had real estate dealings across the city and was also associated with many local top builders. Avinash himself owns various tyre businesses on JC road, and lived in KH Road, Shantinagar. Unlike his mother Kiran Kukreja, who was regular at the cards room in the club, Avinash would rarely drop in, Srikanth said, adding, “I couldn’t even recognise him. Avinash said that he had not come to the Institute for at least a year now.’’