Crackdown on hoarding: Taxmen raid 7 onion traders in Nashik

The traders had been purchasing onions from the farmers since the prices were plummeting, an I-T official said

As many as 25 premises of seven major onion traders in Lasalgaon and surrounding areas in Nashik district, one of the largest onion markets in the country, are being raided by the Income Tax department on Friday.

A senior IT official from the Pune region said as many as 120 officials from the department's Nashik unit were involved in the ongoing search and survey operation.

"We received a specific information that the onion traders of Lasalgaon and adjoining towns are involved in the hoarding of onions and planning to create an artificial scarcity in the market to inflate the prices in future," he said.

The official added that as per the input, the traders had been purchasing onions from the farmers since the prices were plummeting.

"To verify any such unaccounted stock of purchase, as many as 25 premises, including houses, offices and warehouses, of seven big onion traders are being searched and surveyed across Nashik district," the officer said.

He added that the operation would continue for two to three days.