Cash, 8 kg gold seized in I-T raids in F’bad

Faridabad, February 17

With raids continuing on the third day on the premises of a private company, sleuths of the I-T Department seized about eight kgs of gold, worth Rs 4.5 crore, stacked in the lockers belonging to the owners, who are vendors of a major automobile manufacturer. Earlier, Rs 8 crore was seized.

On Wednesday, the search was conducted at 25 locations of the company in the NCR. Some important documents related to land have been seized, for which the directors of the company are being questioned, said sources. The Income Tax team had launched the raids on suspicion of the evasion of taxes, it is claimed.

The team also carried out searches at the company offices located in Gurugram and Delhi, apart from the company owner’s house located in Sector 21B. Necessary documents, mobile phones and laptops have been seized.

On Thursday, the team found cash stacked in various lockers. Several documents have been recovered from lockers of the owners which are being investigated, it is reported. The search was likely to continue on Saturday, said an I-T official.