Bhubaneswar: Two days after a raid on a businessman’s house, the Income Tax (IT) officials on Saturday conducted raids on the offices of a real estate company in Bhubaneswar and seized Rs 22 lakh.
According to sources, the IT officials carried out simultaneous raids on the offices of the real estate firm, Stalwart Project Pvt Limited, in Saheed Nagar and Shailashree Vihar in the city. They also questioned the firm owner Sarat Sahu
The raids were reportedly conducted after the department received information about cash stashed by the builder’s company for distribution during elections. The seizure could increase as several drawers in the office are yet to be opened and raids are still on.
A hotel owned by Sahu in the city was also searched.
The company is currently developing one project each in Patia and Jagmohan Nagar.
It may be noted that the IT officials had seized around Rs 2 crore during a raid on a businessman’s house in Bhubaneswar on Thursday.
