Income Tax Department raids Gujarat-based real estate group

Ahmedabad, May 18 (IANS): The Income Tax Department on Saturday launched a raid on the Madhav Group of Industries in Ahmedabad and Vadodara.

The group, known for its real estate and government infrastructure projects, faced raids at 27 locations across the two cities.

The search operation that began on Saturday morning is still going on.

Authorities are scrutinising their transactions to determine whether any can be classified as benami.

Over 50 Income Tax Department officials are conducting the raid.

Sources shared that the raids on the group’s premises included their office in Subhanpura, Vadodara.

Madhav Group, which has a presence in Karnataka, Delhi, Madhya Pradesh, Uttarakhand, and Maharashtra, has been under scrutiny since its establishment in 2010.

The group operates in diverse sectors, including energy, real estate, highways, and urban infrastructure.



Top Stories

Leave a Comment

Title: Income Tax Department raids Gujarat-based real estate group

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.