‘We have conducted searches at 20 locations of five Yash Birla group companies in connection with allegations of tax evasion,’ a source from the Income Tax Department said here late in the evening.
The properties are located at various places in the national capital and the country’s commercial megapolis, sources added. The I-T sleuths are examining books of accounts of the companies and a clear picture will emerge only after two-three days, the sources said, refusing to identify the firms.
Repeated calls and text messages to the spokesperson of the Group did not elicit any response.
The 150-year-old Group, with a turnover of Rs 3,000 crore, is present in a wide range of sectors such as auto, engineering, steel pipes, machine tools, iron castings, pumps and electrical appliances.
The Group is also into health, wellness, lifestyle, education, travel and information technology. Nine of its companies are publicly listed, according to the group’s website.
The properties are located at various places in the national capital and the country’s commercial megapolis, sources added. The I-T sleuths are examining books of accounts of the companies and a clear picture will emerge only after two-three days, the sources said, refusing to identify the firms.
Repeated calls and text messages to the spokesperson of the Group did not elicit any response.
The 150-year-old Group, with a turnover of Rs 3,000 crore, is present in a wide range of sectors such as auto, engineering, steel pipes, machine tools, iron castings, pumps and electrical appliances.
The Group is also into health, wellness, lifestyle, education, travel and information technology. Nine of its companies are publicly listed, according to the group’s website.