IT Raids At Khuranas: Ambiguous Transactions Worth Rs. 200 Crores Unearthed

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IT Raids At Khuranas: Ambiguous Transactions Worth Rs. 200 Crores Unearthed

| Updated: May 21, 2024 10:04

The mega operation by the Income Tax officials at the premises of Khurana Group of Companies has continued even on the third day. Around 150 officials are engaged in this huge operation at more than 20 places in Ahmedabad and Vadodara.

M.S. Khurana Engineering Limited is an unlisted public company incorporated on September 9, 1998. It is classified as a public limited company with an authorized share capital of INR 30.00 crore and a total paid-up capital of INR 28.75 crore.

The Income Tax officials carried out the operation at the offices, residences, and other related places of the promoters and associates of M. S. Khurana Engineering Limited. It is reported that financial transactions of an ambiguous nature, amounting to more than Rs. two hundred crores, have been unearthed.

The operation is expected to continue for some more days. The company provides engineering and construction services. The Khurana Group is in the business of engineering, construction, and infrastructure projects. It undertakes huge construction projects, such as roads and bridges.

Income tax officials have recovered many documents and digital devices. The captured material will be investigated with the help of experts to find out the implicating material, if any.

The search is also being conducted on the premises of other directors of the company. M.S. Khurana Engineering Limited has seven directors – Nicole Ashishbhai Khurana, Ashish Khurana, and others.

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