As the raid of the Income tax (I-T) department continues for the second consecutive day, documents worth over ₹500 crores were seized from the Radhe Group.

The Ahmedabad I-T department carried out searches at more than 10 locations linked to builder groups, and the ceramic tiles industry on Friday at Mehsana, Ahmedabad, Gandhinagar, Radhanpur, and Morbi.

In the initial investigation, a cash amount of ₹50 lakhs and jewellery worth ₹1 crore were seized from various places. 

The builders have constructed residential and commercial buildings, earning crores of rupees. They have accepted cash payments but not recorded them in their accounts. 

Evidence of funds being diverted to other partner companies has also emerged. The I-T department has initiated action under the Black Money Act for concealing crores of rupees in tax evasion.

The income tax department has started an investigation at the residence and office of Radhe Group’s Mahendra Patel, and his partners, as well as at their site office located near Vaishno Devi Circle in Ahmedabad.

Rough notes have also been found in the raids, which are being investigated. Patel and his partners, along with 10 builders from Ahmedabad, Mehsana, and Vijapur and some financiers, have come under the radar of the I-T department. Patel’s schemes in north Gujarat, which are being invested in by NRIs, are also under scrutiny.

Apart from Mehsana’s Radhe Group, two companies in the ceramic tiles industry also landed in trouble as the I-T department seized questionable documents and digital devices.

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Income tax department searches premises of Radhe, Trojan, and Dharti Saket builder groups