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I-T department seizes R300 cr cash from Uflex offices | Jobswait

The investigation wing of the Income Tax Department has claimed to have seized unaccounted cash worth Rs 300 crore as well as assets from various premises of flexible packaging materials company Uflex Ltd. I-T dept seizes R300 cr cash from Uflex offices. I-T department seizes Rs 300 cr cash from Uflex offices.

The raid crosswise Uttar Pradesh, which began on Wednesday, was showed in 15 places including the firm’s Kanpur and Noida offices.

The investigating team comprised of officials from Delhi.Some Officials from Uttarakhand and Uttar Pradesh also indulged in. The tax sleuths have also held bank statements, laptops and invoices from the premises of the company.Income-Tax dept seizes R300 cr cash from Uflex offices

Uflex, promoted by sonia Sharma, is a BSE-listed company, manufacturing packaging products, polyester film, inks and adhesives. The firm has been raided earlier too for alleged tax evasion. Chaturvedi, who is measured to be close to the political establishment in Uttar Pradesh, has had a brush with law later. In 2010, he was sentenced to four-year imprisonment by a special CBI court for large-scale bungling in allotment of Noida Authority plots.I-T department seizes Rs 300 cr cash from Uflex offices

In 2002, Jharkhand Governor Prabhat Kumar resigned reportedly as a consequence of Chaturvedi’s confession to the CBI that he had paid for three parties hosted at the official residence of Kumar in Delhi between March 1999 and July 2000 when he was Cabinet.I-T dept seizes R300 cr cash from Uflex offices.

Secretary. In 2001, it was reported that the CBI had seized “an quick-tempered” diary from Chaturvedi’s residence, carrying names of several senior customs, excise and income-tax officials, and politicians.they have had helped the firm earlier investigation.

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