Gujarat: Income Tax dept raids Swati Procon’s offices in three cities
The operation was joined by more than 100 officials from Ahmedabad, Vadodara, and Rajkot
Updated: Sep 22nd, 2023
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| Image: IANS |
The Income Tax department of Gujarat has launched a search operation in Ahmedabad, encompassing various locations within the city, including the offices of real estate developer Swati Procon and its associated entities. The raid began on the morning of Sept 21.
The operation, joined by more than 100 officials from Ahmedabad, Vadodara, and Rajkot, is poised to shed light on potential large-scale benami transactions. The IT department got information about the dealings in cash and unlawful trade.
The documents for the land, computers, hard disks, and mobile data were seized by the IT officials from Swati Buildcon’s head office and site office in Ahmedabad’s Ambli. The chemical and intermediate units of the group were also raided.
Mahesh Raj Chemicals, MR Chemicals, MSN Intermediates in Naroda were raided. One of the group’s intermediate units in Vatva was also raided by the IT.
The ongoing investigation is set to extend today, as tax authorities delve into intricate financial matters. The scope of the operation spans over 35 to 40 locations across Ahmedabad, including the premises of Mahesh Raj Chemicals Pvt Ltd, a chemical conglomerate situated in Naroda and linked to Swati Procon.
Ahmedabad’s Ashok Agarwal under the heat
Key figures associated with Swati, including Ashok Agarwal and Saket Agarwal, are currently under scrutiny as stringent measures are implemented by the Income Tax department.
Ashok Agarwal, the founder chairperson of Swati Procon, faces growing scrutiny as tax authorities seek to unravel intricate financial transactions and holdings.
(With inputs from IANS)
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