IT Department raids 20 premises linked to Gitanjali Group

The Income Tax Department on Tuesday raided 20 premises and associated firms in connection with Gitanjali Group in a tax evasion case.

The search action were conducted in Mumbai, Pune, Surat, Hyderabad, Bengaluru and few other cities against 13 companies linked to the Gitanjali Group.

Gitanjali's chief Mehul Choksi is under investigation by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) for allegedly committing fraud amounting to Rs 11,300 crore against PNB, whose Letters of Undertaking and Foreign Letters of Credit were illegally used to raise and rollover money.

Choksi, along with other family members are said to have left the country in early January this year.

 

--IANS

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