Rs 7 crores recovered during IT raids on leading auto parts manufacturing firm in Delhi

New Delhi news: A video shows how the money was stashed in hidden chambers in properties belonging to the firm.

Officials of the Income Tax department raided a leading auto parts manufacturing firm in Delhi-NCR and found unaccounted cash stashed in hidden cabinets. Searches were carried out in more than 60 locations belonging to the firm and Rs 7 crore is said to have been recovered so far.

Officials of the IT department raided Jai Bharat Maruti Group, leading supplier of automobile parts for firms like Maruthi and Ashok Leyland. A video purportedly showing IT sleuths carrying out raids in one of the properties belonging to the firm reveals that cash was stashed in hidden chambers. Rs 7 crore and 3 kg gold bullion has been recovered so far.

Raids were carried out at properties belonging to the firm in Gurugram, Delhi, Faridabad, Ghaziabad from Thursday on Jai Bharat Maruti Group, according to its website, serves in the field of automotive, engineering & design services, renewable energy, and education sectors and has an infrastructure of 35 manufacturing plants, 4 engineering & design centers across 18 locations globally with a turnover of USD 1.2 billion.

JBM group is a tier- 1 supplier to the automotive OEM industry with clients like Ashok Leyland, Bajaj Auto Ltd, Fiat, Ford, General Motors Corporation, Honda, Hero, JCB, Mahindra, Maruti Suzuki, Renault, Nissan, TATA, Toyota, TVS, Volvo-Eicher, Volkswagen. S.K. Arya is the company's Chairman and managing director.

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