The Income Tax (I-T) department has raided 12 Housing Development and Infrastructure (HDIL) premises, reports CNBC-TV18 quoting sources. The raided premises include residences of two HDIL directors. Sources said the department has recovered unaccounted cash of Rs 1.54 crore so far.
HDIL has been claiming excess expenses and undermining profits, it has been alleged. Over 100 I-T department officials were involved in the raids today, sources said. HDIL is publicly listed and trading at 308 at close of business 9/10/2009. Lets see what 9/11 brings to HDIL. I'm not sure what the fuss is all about with builders and black money. Everybody knows that there is no way one can buy in Mumbai without paying 40% black. What is the fuss all about ? and why single out HDIL ? Why not others like Raheja's and Akruti and countless other big and small builders ?
More details here
HDIL has been claiming excess expenses and undermining profits, it has been alleged. Over 100 I-T department officials were involved in the raids today, sources said. HDIL is publicly listed and trading at 308 at close of business 9/10/2009. Lets see what 9/11 brings to HDIL. I'm not sure what the fuss is all about with builders and black money. Everybody knows that there is no way one can buy in Mumbai without paying 40% black. What is the fuss all about ? and why single out HDIL ? Why not others like Raheja's and Akruti and countless other big and small builders ?
More details here
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