Raid, search operations on Uflex, Himahcal Futuristic

New Delhi, May 10 (UNI) Income Tax raids for suspected tax evasion were today conducted on the premisis of NOIDA- based Uflex Ltd (formerly known as Flex Industries) and Himachal Futuristic Communications Ltd, a telecom equipment manufacturer.

Raid operations were conducted on ten premisis of Unflex Ltd and search operations on five other premisis of the same company, IT sources said here.

Search operations were also conducted on some premisis of Himachal Futuristic.

The sources refused to give any details as to whether any documents or cash were seized, saying that it takes time to receive such details. They said search operations are conducted by the local units and thus a time element is involved before the Central Board of Direct Taxes (CBDT) gets these details.

Unflex Ltd was promoted as Flex Industries by NOIDA businessman Ashok Chaturvedi in 1983.

Unflex, listed on the Mumbai Stock Exchnage, manufactures packaging products, polyster films, inks, adhesives and some other products.

UNI