I-T raids Trident Group production plants countrywide
The Income Tax Department has conducted raids at Trident Group production plants countrywide on October 17.
New Delhi: The Income Tax Department has conducted raids at Trident Group production plants on October 17. As per the reports given by news agency ANI, raids are underway at the production plants countrywide.
Trident Group, founded by Padma Shri Rajindra Gupta, have production plants in Budhni, Madhya Pradesh, Barnala, and Dhaula, Punjab. The Group is a prominent player in yarn, home textiles, paper and stationary, chemicals, and adaptable power.
In a coordinated effort, income tax authorities are conducting raids across various cities, not limited to a single location, as they delve into the financial dealings of the Trident Group and affiliated premises. As per official sources, more than 40 officials are actively engaged in the ongoing raid at the Budhni plant situated in Madhya Pradesh.
The Trident Group, established during the early years of India’s economic liberalisation, has evolved into a prominent player in multiple industries. The conglomerate has diversified its business portfolio to encompass sectors such as paper, chemicals, energy, and more.
The raids are aimed at scrutinizing the financial transactions and records of the Trident Group. The officials are rigorously investigating to ensure compliance with tax regulations and shed light on any potential irregularities.
Further detailed reports related to the matter are awaited.
Ms Kalinga