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The seizure comes amid ongoing action by the I-T department in the city over the last few days.
The authorities received a tip-off on Thursday night that the vehicle was standing unclaimed on Kushalpura Road with bags kept inside it, the official said.
Talking to PTI, Deputy Commissioner of Police (DCP) Priyanka Shukla said, “A person informed Ratibad police station that an Innova Crysta was standing unclaimed on the Kushalpura road for a long time and about seven to eight bags were inside the vehicle, following which a police team reached the spot.” She said someone is suspected to have left the bags of gold and cash behind amid ongoing action by some departments in the city in the last few days.
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She said the SUV had the registration number from the MP-07 series and belonged to Chandan Singh Gaur, a native of Gwalior living in Bhopal for four years.
The I-T department is conducting a probe, the official said.
Director General Income Tax (Investigation) Satish K Goyal told PTI that acting on a tip-off that an unclaimed car was parked in the forest area, I-T officials searched the vehicle and recovered 52 kg gold bars worth Rs 40 crore and more than Rs 11 crore cash from it.
He said the total seizure was valued at Rs 52 crore.
“It is not yet clear to whom this cash and gold belongs, and we are investigating the matter further,” Goyal said.
According to sources, the I-T department has been conducting raids against a few individuals associated with the real estate sector in Bhopal since Thursday, and it is suspected that the valuables belong to persons against whom action is being taken.
Leader of Opposition in the Madhya Pradesh Assembly, Umang Singhar, alleged the seized gold and other matters coming out in raids were the result of a nexus between politicians and bureaucrats.