The Income Tax and Central excise departments on Thursday evening carried out raids on four residential and commercial establishments of five big businessmen of Jharkhand mica city Giridih and seized several lakhs in cash and along with several incrimination documents pertaining to crores of undisclosed property and investments from their possession.
The raids conducted on Mongia, Balmukund, Shivm, and Ativir rod factories. According to the sources, the search started late in the evening against the entire four Iron factory across the district. Separate teams of I-T Department set out for the concerned places of the Giridih. Joint Commissioner Ramchandra and AC Bhagat and others who are overseeing the entire operation expressed their inability to provide any detail in respect of the recovery. The department is also learnt to prepare a list of buyers, the business volume and other relevant details and decided to act after verifying the facts.