I-T searches on Raymond group premises

The I-T department on Thursday conducted searches on the premises of clothing major Raymond Group and its promoter Gautam Singhania 15 locations across the country on charges of tax evasion.

The I-T department on Thursday conducted searches on the premises of clothing major Raymond Group and its promoter Gautam Singhania 15 locations across the country on charges of tax evasion. The I-T team conducted the operation at Raymond offices in Ballard Pier, Worli and Singhania's residence in South Mumbai. A premise belonging to the group in Thane was also searched. According to I-T department sources, the search operation were carried out in Thane, Nagpur, Valsad, Jalgaon, Tanagiri, Bangalore, Chennai and Kolkata, besides Mumbai.

"Nothing can be said at this moment as the I-T officials are scrutinising the documents," a senior I-T official said. A Raymond spokesperson said, "The I-T department has been at the Raymond premises since this morning. As a responsible corporate we are cooperating with the authorities. It would be premature to discuss details at this point in time." Sources said that the team was scrutinising the income and expenditure details to check for anomalies.