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All you must know about the mysterious Sayed family of Bandra that declared Rs 2 lakh crore
Under the Modi government's Income Declaration Scheme (IDS), the Sayed family of Bandra has declared an astonishing sum of Rs 2 lakh crore. The family shot to instant fame yesterday after the finance ministry revealed that the family had disclosed such a huge amount.

However, it has been revealed that no one has been living at the Bandra residence for the past seven years, which the Sayeds have listed as their address. Moreover, no one from the neighbourhood has ever seen or heard of the family. In fact, they had no idea that they were neighbours with one of India's richest families.

As per the ministry's statement, Flat No 4, Ground floor, Jubilee Court, 269-B, TPS-III, Linking Road, Bandra (West), Mumbai is occupied by four people: Abdul Razzaque Mohammed Sayed, his son Arif, wife Rukhsana and sister Noorjahan, out of which three members have jointly declared their income under IDS at Rs 2 lakh crore.

Income Tax officials have revealed that three of the PAN cards the family had produced had been issued from Ajmer in Rajasthan and had been recently migrated to Mumbai, where the declarations had been filed in September this year.

The IT department and the finance ministry had kept the income declaration of the family under investigation as they had found it suspicious. It said, "After due enquiry, it was found that these declarants were persons of suspicious nature and very small means and the declarations could have been misused."

Under the IDS, which closed on September 30, the government had announced on October 1 that declarations worth Rs 65,250 crore had been made by 64,275 declarants. But after final reconciliation, it was informed that Rs 67,382 crore had been declared by 71,726 declarants.

The Sayed family is under radar as it is being speculated that they do not belong to a big business house. As per IT officials, the returns filed by the family members look dubious in nature as the individuals seemed to lack the capacity to accumulate such large amounts of wealth.

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