Income tax (I-T) sleuths on Wednesday raided various locations of the Pranami and lohia groups, both realty leaders. Some 30 premises in Ranchi and Kolkata were searched in all.
“The raid is still going on at 20 locations in Ranchi and 10 in Kolkata,” said an I-T official, requesting anonymity.
Sleuths have seized about Rs 50 lakh “from different places, along with documents revealing existence of 25 to 30 lockers,” he added. According to the official, Rs 22 lakh cash was also seized from the office of Pranami Builders. He said the two companies were found to be involved in funding some fake companies in Kolkata and documents related to investment had been recovered.
“About Rs 40 crore to Rs 50 crore was spent on purchasing shares of fake companies,” he said.In addition, there were also complaints against these companies of using black money for purchase of plots. The income tax department also suspects the two real estate groups have been evading tax and investing black money.
The raids were conducted at Hari Om Tower, MR Tower, Church Complex as well four locations on Kanke Road in Ranchi. At least 200 I-T officials were said to be involved.