Officials of the Directorate of Investigations of the income tax department in Surat raided the office and residences of a textile industrialist at Adajan in Surat on Tuesday that continued till late night.
Raids were also carried out at manufacturing unit in Mandvi taluka of Surat. Officials said the unaccounted wealth and other details can be revealed only after the raids are over.
According to DI Wing sources, the officials checked 22 rooms and recovered several documents, along with cash and jewellery from the bungalow and manufacturing units. They also seized bank locker keys.
They also found 12 luxury cars parked in the bungalow of which details have been sought.
Sources said that the annual turnover of the textile company is over Rs 300 crore. The industrialist is being questioned, they said.
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