The income tax department is believed to have seized unaccounted cash in raids at several offices of real estate developer Omaxe Limited till late Tuesday evening.
According to the sources, the searches began around 7am on Monday at various offices of Omaxe across the country.
“We conducted searches at 45 different locations across the country on charges of tax evasion. We managed to seize unaccounted cash worth Rs 20 crore, of which Rs 12 crore was recovered from the builder’s main office in Delhi’s Kalkaji,” the source said. Searches were believed to have been conducted at the company’s offices in Noida, Gurugram, Indore, Chandigarh and other places. Sources said 38 other offices were still being searched on Tuesday evening.
“A total of 250 officials are involved in the search operation. They are looking at the company documents and financial transactions primarily related to their real estate business,” an official said.
According to him, unaccounted income of Rs 200 crore had come to light while scanning the phones and laptops of senior company officials. The IT department, the source said, had seized the devices.
A public relations agency speaking on behalf of Omaxe declined to make any official statement about the raids. “No official comment can be made from our end as we have not been able to get in touch with the company seniors. They are mostly on the office premises and their phones have been seized by the IT department,” said PR official Amit Sharma.