Indore (Madhya Pradesh): The Lokayukta, special establishment police, unearthed an additional Rs 1.65 crore worth of assets on Thursday during its ongoing investigation into the raids conducted at the properties of retired excise officer Dharmendra Bhadoria.
On Wednesday, the Lokayukta team carried out simultaneous raids at multiple locations linked to Bhadoria in Indore, and at one property each in Gwalior and Ujjain, uncovering assets worth approximately Rs 18.59 crore, indicating a disproportionate income of 829.66%.
Under the supervision of superintendent of police (Lokayukta) Rajesh Sahay, further inquiry revealed substantial financial assets held by Bhadoria and his family members.
During the investigation, it was found that a total of Rs 1.26 crore was deposited across various bank accounts belonging to Bhadoria and his family. In addition, the team traced around 21 insurance and investment policies, for which Rs 13.9 lakh had been paid as premiums so far.
The probe also uncovered that Bhadoria s wife held a locker at the Bank of Baroda, and four lockers in total had been identified across different banks. These bank accounts and lockers have been frozen, and officials said that the lockers will be opened in the presence of the accused on Friday.
DSP Sunil Talan said the investigation also revealed that Bhadoria s son Suryansh Bhadoria has a 40% partnership in Shiva Chinese Walk, a restaurant chain owned by Vishal Panwar, located in the Annapurna and Vijay Nagar areas. In exchange for this stake, Suryansh reportedly paid Rs 25 lakh to Panwar.
So far, the investigation has revealed assets worth Rs 20.24 crore, including movable and immovable properties, prima facie linked to Dharmendra Bhadoria.
On Wednesday, the Lokayukta team seized Rs 1.13 crore in cash, including Rs 5 lakh in Euro currency, along with approximately Rs 4.22 kg of gold valued at Rs 5.49 crore, 7.1 kg of silver worth Rs 8 lakh, and other valuables estimated at Rs 2.23 crore from Bhadoria s establishments.
Bhadoria began his career in the Excise Department as a sub-inspector and retired as a District Excise Officer. His estimated income from salary is around Rs 2 crore. However, preliminary investigations revealed assets and expenditures worth Rs 18.59 crore, vastly exceeding his known sources of income.
Bhadoria reportedly told investigators that the wealth was accumulated through wedding gifts and ancestral earnings.
Complaint of partnership in liquor companies
DSP Talan further said that the Lokayukta had received complaints alleging Bhadoria s partnership in various liquor companies, but so far, no evidence or documents have been found to substantiate these claims. The investigation is ongoing to trace additional assets and financial connections.
