IT Dept recovers Rs 20 crore cash in raids on real estate firm

The Income Tax department has recovered Rs 20 crore cash during the raids conducted on various locations linked to real estate firm Omaxe Limited, sources said on Tuesday.

During the raids, the IT officials have also seized the "accounts and sales documents which show more than Rs 200 crore unaccounted transactions of the company".

The Income Tax Department started raids at various locations of Omaxe Limited on Monday. The searches continued for the second day on Tuesday. Out of the 45 premises, searches are still underway at 38 premises, the sources said.

Searches are underway in Delhi-NCR, Chandigarh, Ludhiana, Lucknow and Indore. Around 250 officers and officials are involved in the search operation.

( With inputs from ANI )

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