The Income Tax Department in Surat sprang into action immediately after the Lok Sabha elections, conducting raids at more than 12 locations belonging to three businessmen. Among the targets was a dyeing-processing mill in Kadodara.
The businessmen under investigation include Ramesh Chandra Modi, owner of Aishwarya Dyeing Mill in Kadodara, and individuals associated with the Aishwarya Group in the coal and ceramic businesses. An event manager's name also surfaced in the raids.
The Directorate of Investigation Wing of the Surat Income Tax Department initiated the raids based on substantial information received about these businessmen. Over 50 officers are currently conducting investigations at the raided locations.
The raids are suspected to uncover large-scale benami transactions conducted by these businessmen. The department will proceed with further action based on the information and documents seized during the raids.
The timing of these raids, immediately after the Lok Sabha elections, has caused a stir in the industrial sector of the city. Notably, no such investigations or raids were conducted during the election period in the state, indicating the significance of this post-election crackdown by the Income Tax Department.
