Indian restaurant chain Masala has been linked to what is allegedly the biggest cache of property ever restrained by police.
33 of the chain’s properties, including restaurants, a Remuera house, Papakura units and some semi-rurals, form part of a $34 million dollar asset freeze after allegations of tax fraud amounting to $7.4 million dollars.
Inland Revenue is investigating 17 companies involved with the Masala chain for allegedly under-reporting earnings.
Investigator Elena Bryleva stated in an affidavit that the owners Joti Jain, Rupinder Chahil, Rajwinder Grewal and Supinder Singh evaded paying tax by systematically stripping cash from the restaurants and not declaring cash sales in GST returns.
They have been ordered to locate and submit up to 200 boxes by early March after liquidators Damien Grant and Steven Khov applied to have them held in contempt of court. This order has been complicated by police seizure of company records.
The case is due back in court in March.