Sleuths of the Income Tax Department made simultenous raids at establishments of Pushpanjali Group and residence of the owner on Thursday. Sources said that the team besides recovering huge investment had also recovered unaccounted wealth and cash during the operation and had also sealed two lockers.
Reports said that the IT officials learnt about huge unaccounted wealth of Pushpanjali Group, involved in real estate and hospitality business. After going through the returns filed in the company, senior officers formed separate teams comprising of above 60 employees and they started simultenous raids from early Thursday morning.
The raids were conducted at all the establishments, offices of the group in Noida, Agra, Mathura etc along with the residence of the group owner, BD Agarwal. Sources in the IT department confirmed that besides recovering documents and other papers regarding investment, the team members also found about 2 kilogram of gold and Rs 27 lakh in cash during the operation which continued at the time of filing this report.