Bengaluru: Commercial Tax Department (Enforcement Wing) officials on Thursday raided the corporate office of Rajesh Exports Ltd (REL) and the outlets of its retail arm, Shubh Jewellers, across the State for tax evasion, reportedly worth several crores.
The simultaneous raids were conducted at 67 locations, including 24 in Bengaluru.
A senior official of the department said that the corporate office of REL on Kumara Krupa Road in the City and its manufacturing unit at Whitefield were the two main premises that were raided.
According to a media report, “value of tax evasion according to preliminary enquiry ran into several crores of rupees. Though searches at Shubh Jewellers outlets were over, the documents pertaining to the export and domestic consumption were being verified at the corporate office late into the night. The searches started around 10:30 am.”
The company operates a gold processing unit and jewellery manufacturing facility spread over 12 acres at Bengaluru with a capacity of 250 tonnes of jewellery per annum.