New Delhi, 20 March 2022

As per news report of NDTV, The searches were carried out on March 9 at 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh. The group is engaged in wholesale and retail of construction materials and has a pan-India presence with an annual turnover exceeding ₹ 6,000 crore, the Central Board of Direct Taxes, the policy-making body for the tax department, said in a statement. Unaccounted cash worth ₹ 1 crore and jewellery worth ₹ 22 lakh have been seized till now, it said. The statement said it was found that the group has booked bogus purchases, made huge unaccounted cash expenditure and obtained accommodation entries, aggregating to the tune of over ₹ 400 crore.

Source - NDTV
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