The income-tax (I-T) department searched around 24 premises of Hiranandani Group, its senior executives and companies linked to them in Mumbai, Chennai and Bengaluru for alleged tax evasion on Tuesday.
The premises also included those of the group CFO, chief architect and internal auditor.
Some are in Powai’s Hiranandani area. Hiranandani group is one of the leading developers in the city, and runs a hospital and educational institutions.
On Tuesday, the directorate of I-T investigation, Mumbai, formed teams that arrived at the premises in the morning for the search; it will continue for a few days, it is learnt.
“The group has already clarified that the offshore trust/assets held by the family abroad is fully bona fide and compliant with all laws. Further, all queries of the authorities are being fully addressed and we assure our full cooperation in the matter,” said a company spokesperson.