IT department raids Vatika Group offices

Gurgaon, Jan 16 (IANS) Income Tax (IT) department sleuths Wednesday raided the business centres of real estate developers Vatika Group and its associate firms here and seized documents, including computer hard disks, a company official said.

"The IT officials also searched the houses of the big bosses of the company. Several files, documents, central processing units (CPUs), hard disks and compact disks (CDs) were seized by the raiding team," said the official, who did not wish to be named.

Several business centres and offices of authorised property dealers of Vatika Group were raided by the Income Tax Department officers.

The main team, with several members including a woman IT officer, headed by a commissioner level officer, searched the multi-story head office Vatika Triangle of the group situated here on the Mehrauli-Gurgaon (MG) road. The exercise lasted for several hours.

The site office of the Vatika in sector 82, a developing residential township in seven hundred acres was also raided, the company official added.

A senior officer of Haryana Police who was along with the raiding team said on anonymity that "the offices of authorised property dealers of Vatika, including a office in Bristol Hotel and on Sohna road near Raheja Mall were also searched and few files and computer items seized."

"The raids were conducted after the complaints of financial irregularities in the upcoming and current projects of the Vatika Group. Mainly, in the resale of plots and flats in the upcoming residential, commercial and other projects in sectors from 82 to 99," said an authorised property dealer who too did not wish to be named.

Gaurav Bhalla, one of the top executives of the Vatika did not respond to the phone calls by IANS.

The Vatika Group plans to invest about Rs.250 crore in the next five years on expansion of its business centre venture, which provides fully-furnished office space and other services to clients.

Vatika Business Centre, a subsidiary of Vatika Group, has eight business centres in Gurgaon, Bangalore, Hyderabad, Pune and Mumbai covering more than two lakh square feet of office space.

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