New Delhi, 20 November (IANS). The Income Tax Department on Friday raided 16 locations, including Kanpur, Gorakhpur, Noida, Delhi and Ludhiana, in the case of a major animal feed producer in North India. The raid is still going on from the department.
The Income Tax Department said there are allegations against the animal feed producer company that it has taken housing entries of more than Rs 100 crore from some shell companies in Delhi as non-genuine unsecured loans.
During the raids, it was found that the shell companies from which the loan was taken are only on paper and have no real business and credit.
The directors of these shell companies are dummies, non-filers and individuals without any means. One of the directors of these companies has been found to be a taxi driver, who has 11 bank accounts with a significant amount of money. This shows that more than Rs 121 crore housing entries in the form of unsecured loans from these shell companies are fake.
During the raids, there has been considerable exposure to the construction of the houses of the main individuals of the animal feed producer company. So far, gold and diamond jewelery worth Rs 52 lakh has been recovered. Also, 1.30 crore have been received, which are being verified. Along with this, a total of seven lockers have also been found, which are under investigation.
The department said further investigations were underway.
AKK / SGK