Editor’s Note
This article details an ongoing, multi-day search operation by the Income Tax Department targeting a prominent diamond business group in Surat. The investigation is focused on tracing documents related to land transactions. We will continue to monitor developments.
The Income Tax Department has launched a comprehensive search operation targeting the ‘Laxmi Group’, including Laxmi Diamond, owned by the Gajera family, prominent industrialists in the diamond city of Surat. The operation, which began on Wednesday, is now in its fourth day as officials continue to struggle to trace documents related to land deals.
More than 150 officers, organized into various teams, conducted simultaneous searches at the offices and residences of the Gajera family members—Vasant Gajera, Chinu Gajera, and Dhiru Gajera—who have interests in diamonds, education, and real estate. The operation also extended to the business premises, residential houses, and various projects of Anil Bagdana and his partners Tarun Bhagat and Pravin Bhoot. This large-scale action has caused a stir among other businessmen and industries in Surat.
The main focus of the investigation is all transactions related to the real estate dealings of the Laxmi group. The Directorate of Income Tax (Investigation) wing had received specific prior information about the group’s real estate deals, based on which documents are currently being verified. Preparations for this operation had been underway secretly for several days before the teams reached the designated locations early Wednesday morning.
Questioning of all family members, including the main partners Vasant Gajera, Chinu Gajera, and Dhiru Gajera, has commenced, along with a deep investigation into their financial transactions. Furthermore, the IT department has extended the probe to examine potential connections to the latest ‘hawala network’.
The raids have also generated political heat. Dhiru Gajera has been known for his political leanings and has, for a long time, been targeting the BJP on social media. Having been with the BJP earlier, he joined the Congress and later returned to the BJP. However, in recent years, he has been in the news for indirectly targeting BJP leaders and their activities on social media. This action by the IT department has caused a significant uproar in both industrial and political circles.
Laxmi Diamond was established in 1968 when the family’s eldest brother, Vasanti Gajera, migrated to Surat from Amreli. His father, a farmer, provided him with a capital of ₹10,000 to start the business. Vasant, along with his two other brothers, Dhirubhai and Girdharbhai, began operations with just three diamond polishing wheels in a rented house in Surat. The firm ‘Laxmi Diamond’ was formally established in 1972. Over the last 50 years, the company has grown from a small partnership of three brothers into a large group in the global diamond industry.