Bengaluru: B M Farooq, businessman and younger brother of Congress MLA B A Mohiuddin Bava came under the scanner of the income tax department, with sleuths conducting raids at offices of five companies, either owned or connected to him, in Mangaluru and Bengaluru.
Farooq, who contested the Rajya Sabha election in June on a JD(S) ticket, had declared assets worth Rs 750 crore. According to the affidavit, Farooq is a shareholder in 16 companies and has availed of loans from various entities to the tune of Rs 51 crore, including unsecured loans amounting to Rs 15 crore from companies that are into energy-related businesses.
It is also gathered that Greenco Energies Pvt Ltd which has given a Rs 4-crore unsecured loan to Farooq according to the affidavit, too is on the radar
The raids are expected to continue for a day or two.