Mega TV Production and Finance Ltd, registered very recently. Both firms belong to Bharat Shah's group. I-T is inquiring into the business of the Mauritian company, its sources and mode of business. Another property in Walkeshwar which is now under reconstruction is also suspected to be Shah's. Layer Exports Pvt Ltd. The department is looking at the identity of the tenants which are suspectedly false, the tenancies suspectedly created only with a view to showing a depressed purchase price.
Firms registered in the name of employees and friends abound, says sources.
Papers related to one such firm, Niru Diamonds, are already in the possession of the I-T department. The partners of the firm are one Tarun C Shah and his family. Tarun Shah happens to be the employee of B Vijaykumar and Company, Bharat Shah's flagship diamond firm and draws a meagre salary of Rs 8,000 per month. And though Niru Diamonds is filing nil returns, there is evidence that huge sums of export proceeds have been withdrawn by the partners.