ED had said the Amtek Group defaulted on loans exceeding Rs 25,000 crore taken from more than 15 banks
2010, which made up a big portion of FY11, was the year of the tiger. And the taxman has not only shown his claws and fangs, he's used them to good effect. CNBC-TV18's Ashwin Mohan reports.
The income tax department has conducted a search operation on Mumbai-based Kanakia Group. The raids were conducted early morning, in Mumbai and Lucknow, for alleged tax evasion pursued by Kanakia Group, reports CNBC-TV's Ashwin Mohan quoting sources.
I-T department has conducted pan-India raids on Amtek Group. I-T department has covered Amtek Auto and Amtek India in raids. These raids have conducted on basis of alleged suppression of income, quoting Sources, reports CNBC-TV18.