IT raid on prominent Shimla businessman

Shimla, Apr 19 (UNI) Rs one crore in cash and jewellery was seized from the business premises of a prominent Shimla businessman, Gainda Mull Hem Raj in a raid conducted by Income Tax Department officials today.

The raid, a part of nationwide search, was carried out by the investigation wing of the income tax department at four different places of Shimla, Delhi, Gurgaon and Parwanoo.

The sources said different teams of the department raided the factories, offices and residences of the businessman and investigations were still continuing.

Cash estimated to be over Rs one crore, and jewellery, besides investment in stocks and share certificates were also recovered during the raid, the sources added, while refusing to divulge the details.

UNI