I-T raids at premises linked to Hiranandani group in foreign assets case

The Income Tax department on Tuesday conducted raids at Hiranandani group. Raids are being conducted at 24 locations across Chennai, Bengaluru, and Mumbai, sources told CNBC-TV18.

The raids were underway at the premises of both the Hiranandani brothers (and founders), Niranjan and Surendra Hiranandani, the sources said.

The raids are being conducted in the foreign assets case. The Hiranandani brothers have been accused of not disclosing their offshore investment in a trust, the sources added.