The Income Tax department has searched offices of Sunteck Realty in Mumbai, CNBC-TV18 said quoting sources on Wednesday.
Apart from offices, residences of company directors were also searched, the report said. The real estate developer is backed by Ajay Piramal. CNBC-TV18 had reported on Tuesday that the company has bagged a 15 acre plot in suburban Mumbai. Sunteck will pay Rs 400 crore for the plot, which will be utilised for residential development, according to the report. Sunteck Realty shares were trading up 8% at Rs 282.20 on NSE in morning trade.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
