• Notification Date: 06-01-2023
• Notification No: N/A

Income Tax Dept raids Premises of Exel Group of Companies in Hyderabad

On Wednesday, the Income Tax (I-T) department conducted searches on premises of Exel Group of companies in Hyderabad and neighbouring Sangareddy district. The company has been allegedly involved in irregularities in income tax payment. 

About 20 teams of IT officials have been conducting simultaneous searches at 18 locations in Gachibowli, Mindspace, Bachupalli, Chandanagar, Kokapet, Babukhan LakeFront villas and other places in Hyderabad. The teams, each comprising three officials, were also conducting searches at the offices and residences of directors of companies in Hyderabad and also, Exel unit at Pashamailaram in Patancheru of Sangareddy district. 

The officials started conducting the searches at around 6 a.m. and continued throughout the day. The I-T department launched the searches following complaints of alleged irregularities in income tax payment. The Exel Group of Companies deals with infrastructure, Information Technology, engineering, healthcare, rubber and plastic manufacturing and other sectors.