The Income Tax (IT) officials raided reality major Brigade Group of companies simultaneously at Bengaluru, Mysuru and Chennai offices and confiscated important documents. Around 200 officials raided the company offices from morning to late night on Thursday, reports Kannada Prabha.
The residence of group chairman MR Jaishankar was also raided. Brigade Gateway Properties at Yeshwanthpur, Brigade Enterprises Ltd at VV Mohalla and Gokulam at Mysuru and offices in Chennai totalling at 25 places were raided. At nine locations, all bank details and transactions have been seized. The head office in Bengaluru and the residence of its chairman Jaishankar were raided by a group of 10 officials and inspected documents to check illegal properties. Similar raids were also conducted at the residences of MD, secretaries, directors and auditors at Mysuru and Chennai too. The raid is expected to continue on Friday too.
It is alleged that Brigade Group of companies deposited huge amount of money into various accounts in different banks after demonitisation. There were allegations of possible tax evasion to a great extent. Following this, the raid was conducted.