Gujarat Income Tax Back With Its’ Builder Raids. Chitrak Shah, Deepak Nimbark And Yash-Snehal Brahmbhatt Under Radar

| Updated: February 10, 2022 8:21 pm

Income Tax

Indian Prime Minister Narendra Modi and Home Minister Amit Shah have always insisted on transparency and good governance in Gujarat. However, police and political patronage have of late started showing up its vulgarity. First, it was Rajkot Police Commissioner Manoj Agarwal whose corruption has led citizens and even BJP MLAs in Rajkot to raise protest.

Before such a thing could take place, the vigilant Income Tax Department conducted raids at three builders, who are brokers turned builders and are believed to enjoy unlimited police and political patronage in Ahmedabad

The vigilant Income Tax department raided over 25 premises of three companies Shivalik (owned by Chitrak Shah), Sharda Realty (owned by Deepal Nimbark) and Shilp Group owned by the broker turned builder Yash Brahmbhatt. Yash’s wife Snehal’s beauty parlours and Pilates studios were also raided.

Like Manoj Agarwal there is a market speculation about who is that IPS officer whose corrupt money is being stacked with these builders especially Deepak Nimbark. 

“We have raided over 25 places including buildings and bungalows given out to friends and important functionaries. The search began on Thursday early morning. Over 100 I-T officials are deployed at various locations of the builders group including–Shivalik head office at Satellite area and Sindhu Bhavan road.”. sources told Vibes of India.

Shivalik Group

Chitrak Shah is the owner of Shivalik Group. In 1996 he began his work with the brand name ‘SN Developers’. In 2001, he changed the brand name to ‘Shivalik’. He is also one of the Vice Presidents of GIHED Credai and a co-founder at EO (Entrepreneurs Organisation).

Chitrak Shah
Chitrak Shah, Shivalik Group

His major retail projects include Enclave, Harmony, Avenue, Parkview 2, Platinum, Shivalik Square, Shivalik Shilp -II, Shivalik Shilp, Shivalik Satyamev. His home schemes include Parkview 2, Harmony, Edge, Platinum, Enclave and Avenue.

His first project-Shivalik Arcade came out in 2000 and this was the very year when he developed many other projects and declared Shivalik group as a successor of S N Developers. He also ran I Love Sandwich House on SG Highway; earlier he started the restaurant Qwiches near Vijay Crossroads.

The Income Tax department has also raided premises run by Chitrak Shah’s younger brother Taral Shah. Taral joined the business as Managing Director in 2003, and that is when the company ventured into commercial Projects as well.

Taral Shah
Taral Shah, MD, Shivalik Group

He is a Civil Engineer and does the framework of various projects and its procurement for Shivalik Group.

In 2010,  Gujarat CID (Crime) had picked up Chitrak Shah, for attempting to engineer fake documents with an intention to illegally encroach upon a piece of land worth crores.

 An audit conducted by a CA for a project had brought to light that developer Shivalik Infraspace LLP had collected a sum more than 10% of the cost of an apartment in Shivalik Sharda Parkview apartments in Shela.

Major projects:

Shivalik High Street

Shivalik Shilp – Landmark location

Shivalik Parkview – 45 + Amenities

Shivalik Platinum – First Redevelopment

SNH – Infrastructure Company.

Shivalik Plaza – Corporate Houses

Shivalik Villa – Premium R3 Bungalows

Shivalik Group Projects

Business Diversification

#I Love Sandwich House – Cafe –  Sold Out

Dipali Shah Couture – Fashion – Running

Birthday Gift App – E-commerce – Shut down

Qwiches -Quick Service Restaurant –  Shut down

Platinum Hotel – Hotel – Sold Out

Shilp Group

The Income Tax department has raided Shilp Group headquarter located beside Rajpath Club, Bodakdev. The real estate group is run by broker turned builder Yash Brahmbhatt and COO wife Snehal Brahmbhatt. Snehal handles the communication, PR and media relations of the group. She is also the owner of Yasmin Karachiwala Body Image Studio, Sindhu Bhavan, Ahmedabad besides running a beauty salon in Bodakdev.

Yash Brahmbhatt
Broker turned builder Yash Brahmbhatt

Yash Brahmbhatt is a real estate billionaire. He comes from a humble background. In 1997 he joined his brother’s small tiles business in Ahmedabad. He worked with his brother till 2001 and it was only in 2004 that he bid in a land auction by AUDA and started his real estate business. In 2004, he inaugurated his first building Shilp Arcade at Jodhpur Crossroads in Ahmedabad. Today they have over 40 real estate projects in Gujarat.

Shilp Group COO Snehal Brahmbhatt

Their residential projects include Shilp Paradise, Shilp 14, Shilp Shaligram, Shilp Revanta and Shilp Ananta. Their major commercial projects include Shilp One, Shilp Corporate Park, Shilp Satved, Shilp Epitome, Shilp Zaveri, Shilp The Address, Shilp Shivalik 2, Shilp Revanta and Shilp Ananta.

Shilp Group

Shilp Group manager is Arpan Barot and their sales is headed by Saumil Patel. Ahmedabad based real estate brokers Ketan Shah and Manish Brahmbhatt are also under the I-T radar.

Shilp Group

Sharda Realty

Sharda Realty was founded by Deepak Nimbark in 2010 after restructuring Vishwanath Group–co-founded in 1996. Some of their projects include Ishaan series (Ishaan 1- 3), Shaligram series (Shaligram 1-3), Sharanam series (Sharanam 1-12), Shivalik Sharda Harmony, Shivalik Sharda Parkview and others. An income tax source told Vo! that they received information of immense police patronage to this group. 

Deepak Nimbark, Sharda Realty

They are into rental residential properties, rental commercial properties, real estate, luxury homes etc. Their head office is located at Mondeal Retail Park, Besides Iskcon Mall, Rajpath Club road, SG Highway, Ahmedabad.

Sharda Realty office that is under I-T investigation

Deepak Nimbark has worked closely with Shivalik group. In an interview in 2018, Nimbark said that his company in association with Shivalik group, had purchased a 78-apartment scheme (of 2 and 3 bedroom-hall-kitchen for Rs1.24 cr and 1.72 cr respectively per apartment) near AMA road.

The Income Tax investigation is still underway.

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