After Embassy Group, Income Tax Dept raids premises of Kesar Pan Masala owners in Kanpur

The Income Tax Department on Wednesday raided the premises of the owners of Kesar Pan Masala Company in Kanpur. Multi-city searches were also carried out at three other big companies, including Dilbagh tobacco group and India Bulls.

These searches took place at five locations, including the residence of the owner of Pan Masala Company in Swaroop Nagar, an office in Nayaganj, and a factory located in Dada Nagar in Kanpur.

Teams of the I-T Department reached various locations in a planned manner and conducted searches and scrutinized the documents pertaining to the transaction to Embassy Group on Wednesday. The team then raided the premises of the owner of Pan Masala Company in the city. During the raid, many other pan masala traders came under the radar who had closed their business in Kanpur.

The multi-city raids come in the backdrop of the merger between the Embassy Group and Indiabulls Real Estate. The officials are searching for office spaces for the firms.

Bengaluru IT ept raids Embassy Group offices

Earlier, the Income Tax raids were conducted at residences of executives and office buildings connected to the Embassy group over suspected cases of tax evasion. The I-T officials also conducted raids at the Embassy Arcade Apartment in Bengaluru's Sadashivnagar owned by Narpat Singh, the Director of the Embassy Group. Officials arrived at Singh’s flat on Wednesday morning and began searches. 

Searches are also being carried out against the Managing Director of Embassy group Jeethu Nirvani as part of the mega raids across Karnataka against the Embassy Group. Embassy, which is one of the largest real estate groups in the state is now being raided over alleged tax evasion on the backdrop of the company’s large merger deal. The IT department is yet to release an official statement regarding the actions.