Income tax sleuths cranked their whip on the renowned industrialist Raghunath Mittal, a prominent industrialist in Adilabad. Sources revealed that IT-raids were on full swing in the residence and offices of the business tycoon since yesterday. The information has it that simultaneous flash rides were conducted on Saibaba Ginning factory and other pressing factories along with the residences of his friends and relative. It was reported that the officials have seized several crucial documents.
Raghunath Mittal the owner of Raghunath Agrotech, is one of the leading manufacturers of cotton bales. The company exports raw material to Pakistan, Bangladesh, Vietnam, China and Indonesian markets. While the IT officials claim that there is no search on the properties of Raghunath and it is a survey by assessment wing, not revealing the details has triggered speculations.