The Income Tax Department has raided nearly two dozen premises of real estate giant Hiranandani Group. The Mumbai Investigation Wing of the Income Tax Department has conducted simultaneous raids at around 24 locations of Hiranandani Group located in Mumbai, Bengaluru and Chennai in connection with suspected tax evasion. Sources said the agency is probing the overseas assets of the Mumbai-based real estate major and undisclosed investments in a trust. For now, this raid is on.
In fact, several teams of the Income Tax Department started raids on a total of 24 different locations of Hiranandani Group on Tuesday morning. These locations include homes and offices of people associated with the Hiranandani group. It is being told that this raid is also taking place at the houses of Hiranandani brothers and the founder. Sources said that the houses of Niranjan Hiranandani and Surendra Hiranandani are also included in the raids where the raids are going on.
According to the information, investigation is also going on in the raid regarding foreign assets of Hiranandani Group. Niranjan and Surendra Hiranandani are accused of withholding investment information in a trust located abroad. At present, the spokesperson of Hiranandani Group has refused to comment on the raid. It is also being told that this raid may continue till the next day.
Income tax officials also searched the sales office of the group in Mumbai. Central Reserve Police Force personnel were also accompanying the search parties. At present, the central agency is yet to disclose the details of the ongoing proceedings as department officials are scrutinizing the financial accounts of the real estate group. An income tax official said the raids are likely to continue on Wednesday as well.