The Income Tax Department today conducted searches at the premises of prominent industrialist Gautam Singhania in Mumbai and Delhi over alleged tax evasion. Gautam Singhania is the Chairman & Managing Director of the Raymond Group, one of India’s largest branded fabric and fashion retailers.

A team of I-T officials began searching the official premises of the business tycoon early in the morning. The operation was initiated by the Intelligence Wing of the I-T department.

The Group has several brands under its umbrella – Raymond, Raymond Premium Apparel, Manzoni, Park Avenue, ColorPlus, Parx & Notting Hill. The Group also has business interests in readymade garments, designer wear, cosmetics & toiletries, engineering tools, prophylactics and air charter operations.