I-T raids on Giridih group

Ranchi, Nov. 6: Over 37 premises owned by Giridih-based Balmukund Group and sister entity Balaji Group were raided by the income tax authorities today.

More than 100 officials swooped down on establishments in Jaipur, Patna, Giridih, Calcutta, Lakhisarai, Muzaffarpur and Bada Jamda (West Singhbhum), among other places, to probe possible tax evasion by the companies owned by brothers Nawal Kishore Kanodia (Balmukund) and Kailash Kanodia (Balaji).

"The raids are continuing and more than 100 officials of our department from Jaipur, Calcutta, Patna and Jharkhand are on the task. We are verifying the documents and trying to match it with the official production figures of both companies. As we are going through many papers, the exact findings would be known after a day or two," said Kumar Sanjay, income tax director of investigations looking after the states of Bihar and Jharkhand.

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