Income Tax sleuths on Tuesday carried out raids at 35 premises of two companies and some other firms associated with them in Indore, Bhopal and Mumbai.
IT officials suspect that the realty estate company and the nutritious meal manufacturing firm, indulged in evading tax payments, sources said.
Raids were conducted at 26 premises in Indore, five in Bhopal and at four places in Mumbai, including 12 premises of the associated firms.
The IT officials also recovered some documents during the raids and the same are being examined.
The raids were carried out by 100 IT officials and 60 police personnel. Further details about the raids are awaited.