IT raids over 50 places in NCR, recovers rupees seven crore

New Delhi: The Income Tax Department on Saturday raided over 50 premises belonging to a leading auto spare parts manufacturing firm in the National Capital Region and recovered cash worth Rs seven crore, officials said.

An IT official requesting anonymity said that the searches were carried out at offices and properties of the Jai Bharat Maruti Group across Delhi, Harayana's Gurugram and Faridabad and Uttar Pradesh's Ghaziabad.

Besides the cash, three kg of gold was also recovered.

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According to IT officials, the Jai Bharat Maruti Group, is a leading supplier of automobile spare parts to firms like Maruti Suzuki and Ashok Leyland.

The official also said that the raids were being carried out since Thursday.