Rs 125-Crore Cash, Gold, Diamonds: What Was Unearthed In I-T Raids On Faridabad Builders

A mega operation by the Income Tax Department

in Faridabad, Haryana, has led to the detection of undisclosed assets worth more than Rs 125 crore, exposing large-scale tax evasion and hidden wealth. The four-day I-T raid, which began on Wednesday morning and continued until late Saturday night, covered nearly 50 locations linked to builders, school owners, private security agencies, and four companies across the city.

During the Income Tax raids, officials seized over Rs 22 crore in cash along with a substantial quantity of gold, silver, and diamond jewellery. Sources in the department said the total value of undisclosed income detected so far has crossed Rs 125 crore and is likely to increase as scrutiny of seized material continues.

Around 50

teams conducted simultaneous searches at residential and business premises to prevent the destruction of documents or digital evidence. Investigators recovered suspicious papers, computer data, bank details, and transaction records. Currency-counting machines were deployed on-site to handle the large volume of cash, while the jewellery was assessed under expert supervision.

The action targeted premises associated with Modern DPS School in Greater Faridabad’s Sector 81, Shreeji Energy, Rani Electrode, Bhagwati Columns, and Auric Builder. According to department sources, these entities had been under surveillance for an extended period, and the operation was launched following specific intelligence inputs.

Preliminary findings indicate that several investments were allegedly made under fictitious names and that income was underreported to evade taxes. Officials also suspect that certain transactions were routed through shell companies.

Income Tax authorities said the investigation into the seized documents and digital records is ongoing. Once the probe is completed, proceedings for tax assessment, recovery of dues, interest, penalties, and possible legal action against those involved will be initiated.