MP: I-T searches offices and properties of Pratibha Syntex, Shakti Pumps | indore | Hindustan Times
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MP: I-T searches offices and properties of Pratibha Syntex, Shakti Pumps

indore Updated: Jan 21, 2016 19:54 IST
HT Correspondent
HT Correspondent
Hindustan Times
Madhya Pradesh

A policeman at the office of Shakti Pumps during income tax search in Indore on Thursday.(Shankar Mourya/ HT Photo)

The income tax (I-T) department on Thursday searched 26 premises of Pratibha Syntex and Shakti Pumps located in Indore, Pithampur and Mumbai and seized large volume of documents, laptops, soft copies which allegedly show trails of money laundering and tax evasion.

The search comes two days after the I-T department carried out surveys at Jaiswal Builders (which has promoted Saffron City), Hello Foods which manufactures potato and banana chips and Jepika Paints which manufacture paints. Together, the three business groups had surrendered unaccounted income of Rs 7.50 crore.

On Thursday, 125 income tax department officials and employees aided by 100 policemen carried out search at residence of owners in Saket, Manishpuri, their factories in Pithampur (neighbouring Dhar district), godowns, shops and offices in Indore, Pithampur and Mumbai.

According to department officials, Pratibha Syntex Ltd is a leading textile manufacturing group headed by Shreyaskar Choudhary. It is involved in cotton farming, spinning, knitting, dyeing and manufacturing garments which are exported.

Promoted by Dinesh Patidar and his relatives, Shakti Pumps India Ltd manufactures agriculture pumps, submersible pumps, motors, diesel pump sets, valves etc.

The searches which began on Thursday will continue for the next two to three days.

With barely two months left for the financial year to end, the I-T department has swung into action to trace tax evasion and meet annual revenue collection target.