I-T raids at packaging firm sites end after 6 days
Noida, February 27
The Income Tax (I-T) Department raids on the premises of Uflex, a packaging company, have concluded after six days.
Tonnes of documents, 120 hard disks and 50 diaries containing information related to bogus transactions were recovered during the raids that were being carried out at more than 80 locations of Uflex Group in eight states from February 21.
During the investigation, the I-T Department detected irregularities of over Rs 1,500 crore and seized documents related to bogus transactions worth Rs 1,000 crore.
The officials also found information regarding more than 60 shell companies being run under the names of people of eight families belonging to the economically weaker section of the society that had been engaged in the transfer of more than Rs 1,000 crore to different accounts.
The department has sealed 28 lockers belonging to Uflex Group and its officials in different cities. — IANS
