IT raids Exel Group of companies in Hyderabad

Hyderabad: Income Tax department officials are conducting raids at Exel Group of companies in Hyderabad on Wednesday. According to the sources, the IT officials divided into 20 teams and showed up in 40 cars and three CRPF vehicles are conducting raids at 18 locations across the nation.

The IT raids are going on at three corporate offices of the Exel group of companies in Chandanagar, Gachibowli and Bachupalli. It is said that the IT raids are also going on at the residences of the six company directors along with the offices.

The officials seized the mobiles of employees working at the offices and crucial documents in Gachibowli. Sources said that the IT raids are going on after the officials allegedly detected irregularities in income tax payments.



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