Front Façade of RSA Infraproject Private Limited Directors’
residence in posh Avanti Vihar, Sector-2 where taxmen were accompanied by armed troopers during the search-ops.
Staff Reporter
Raipur,
Raipur search-ops classified as ‘Consequential’, tied to Odisha findings on RSA’s financial activities
Directors Sanjay Kumar Agrawal and Bajrang Lal Agrawal scrutinised for links to multiple companies in infrastructure, energy, and warehousing sectors
The Income Tax Department’s Investigation Wing has intensified its search operations targeting RSA Infraproject Private Limited, headquartered in Raipur, citing financial discrepancies and suspected tax irregularities.
The operations are part of a “consequential search”, conducted under Section 132(3) of the Income Tax Act, linked to earlier investigations in Odisha, where the company also operates extensively.
Incorporated on 26 July 2021, RSA Infraproject specialises in building completion activities and boasts an authorised share capital of Rs 60 crore and a paid-up capital of Rs 52 crore.
The searches, carried out at the company’s Shri Shyam Tower office and the directors’ residence, ‘Shyamkripa’ in posh Avanti Vihar, Sector-2, unearthed significant financial and digital records. Directors Sanjay Kumar Agrawal and Bajrang Lal Agrawal are under scrutiny for their affiliations with multiple entities, including Shri Balaji Hume Pipes, Radhey Shyam Agrawal Infrastructures, RSA Warehouse (I) Pvt. Ltd., SSP Green Energy, and Garud Credit & Holdings Pvt. Ltd. Tax officials suspect fund diversions, underreported revenues, and discrepancies in Government and private
contracts executed by these entities. A senior tax official explained, “Consequential search operations allow the department to uncover assets, records, or properties connected to ongoing probes in multiple locations. These enable a holistic examination of financial mismanagement and tax evasion.” Preliminary findings from Odisha indicated a mismatch in declared revenues and irregularities in infrastructure project execution costs, triggering a coordinated operation in Raipur.
RSA Infraproject’s multi-state operations across Chhattisgarh, Odisha, and Jharkhand are now under detailed scrutiny, with officials analysing interstate transactions and revenue flows. Investigators have seized account books, transaction logs, digital evidence, and email communications. Early indications point to large-scale tax evasion, particularly through underreported earnings from infrastructure projects. The intricate network of directors’ affiliations further complicates the investigation.
Tax officials revealed that RSA Infraproject’s rapid growth in just two years raised red flags, particularly discrepancies in contract execution costs and profit declarations. Investigators are now focusing on fund movements across associated businesses and possible ties to undisclosed transactions. The probe highlights lapses in financial transparency and contractual compliance, raising concerns about accountability in infrastructure projects.
Tax authorities are coordinating with counterparts in Odisha and Jharkhand to analyse RSA Infraproject’s financial ecosystem comprehensively. A senior official stated, “The seized materials are crucial for tracing the financial trail of RSA Infraproject and its associated entities. This will help quantify the extent of non-compliance and tax evasion.” Officials have hinted that the findings may lead to summons for individuals linked to RSA Infraproject and its network of businesses. Investigations into interstate dealings, government contracts, and private sector agreements remain ongoing, with authorities prioritising compliance and transparency in the infrastructure sector. The Income Tax Department’s commitment to addressing financial opacity in the infrastructure domain has gained momentum, as this consequential search operation continues to unfold with far-reaching implications.