I-T officials seize Rs 2 cr from GS Autos

Tribune News Service

Ludhiana, December 8

Officials of the Income Tax Department have seized jewellery and cash worth Rs 2 crore from GS Autos. Incrementing documents have also been seized by the department.

Raids were conducted at GS Autos Group on December 3. The officials searched the residential premises, factory premises and schools run by the group. Raids were held on the directions of HS Sohi, Director (Investigations). The major case that has come forward from the raids is that three schools run by the group are managed by a charitable trust, but the money collected through the schools is used by the group and business entries are being made through a bogus Delhi based company.