I-T sleuths raid Sahara offices in Delhi, Noida

The income-tax (I-T) department carried out search and seizures on the premises of the Sahara group in the national capital region over the weekend on charges of tax evasion, officials said Monday

Sources told IANS that Sahara premises were searched in Greater Kailash and Noida, as part of the department's tax related demands against the business group and and officials have seized documents, electronic records, some cash and a considerable ammount of gold from the premises.

A Sahara spokesperson told reporters that in view of the embargo imposed on the company's properties for some time, legitimate cash is kept at various points for requirements and emergencies.

The Enforcement Directorate has also registered a money laundering case against the group in connection with non-payment of monies to depositors, which is being probed by capital markets regulator Sebi.

A criminal case was registered by Mumbai zonal office of the ED, under the Prevention of Money Laundering Act (PMLA) following a report from Sebi.