IT raid on Trident Group production plants
New Delhi: The Income Tax Department has raided the production plants of Trident Group on October 17. According to the report given by news agency ANI, raids are going on at production plants across the country.
Trident Group, founded by Padmashree Rajinder Gupta, has production plants in Budhni, Madhya Pradesh, Barnala and Dhaula, Punjab. The group is a major player in yarn, home textiles, paper and stationery, chemicals and adaptive power.
In a coordinated effort, Income Tax officials are not limited to any one location but are carrying out raids across various cities as they probe the financial transactions of the Trident Group and associated premises. According to official sources, more than 40 officers are actively engaged in the ongoing raid at the Budhni plant in Madhya Pradesh.
Trident Group, established during the early years of India’s economic liberalisation, has grown into a major player in several industries. The group has diversified its business portfolio to include paper, chemicals, energy and other sectors.
The aim of the raid is to investigate the financial transactions and records of Trident Group. The authorities are strictly investigating to ensure compliance with tax rules and highlight any possible irregularities.
A detailed report related to the matter is awaited.
