The Income Tax Department has raided the premises of BVG, a 'house keeping' company in Pune, to find undisclosed income of Rs 180 crore. Central Board of Direct Taxes (CBDT) officials made this claim on Thursday. The CBDT issued a statement saying, "The raids were conducted on the basis of specific information about fake loans, fake purchases and fake sub-contract expense claims." However, the board did not reveal the identity of the company in its statement but officials Confirmed that the case was related to the Bharat Vikas Group (BVG). The statement said that the raid is still going on.
Pune, Mumbai, Nagpur, Delhi, More than two dozen locations associated with the company were raided on Wednesday in Bangalore and Noida. BVG Group Chairman and Managing Director Hanumantha Gaikwad had said in a statement on Wednesday that the Income Tax authorities had conducted raids in the company's premises. Gaikwad started an NGO in the 1990s and started BVG in 1997. The company is now serving more than 850 customers in 70 cities across 22 states. The company has since employed 75,000 people.