Income Tax (IT) Department sleuths on Tuesday raided establishments of three major sponge iron business houses in the State, officials informed.
The raids were conducted at the establishments situated at Raipur, Bilaspur, Durg, Raigarh, Bhilai and Ambikapur.
The officials are suspecting large-scale tax evasion .
More than 100 IT officers from Chhattisgarh and Madhya Pradesh on Tuesday morning simultaneously raided the establishments of Real Ispat, owned by Rajesh Agrawal in Raipur.The raid was also conducted at the Shankar Nagar based Ashoka Ratanam residence of their Chartered Accountant, Manoj Bansal. The group has also invested in power sector recently and the officials also enquired about the investment made, sources said.
The raids were also conducted at the residence of Directors of Sunil Ispat, Anil Nacharani and Sunil Nachrani situated at VIP Road in Raipur. Other than these, one more business establishment was raided by the sleuths.
The sleuths were also investigating the investments made in real estate and other businesses and the search had been underway till the filing of this story.