Leading textile giant Trident Group is facing raids of the Income Tax department on its manufacturing units and offices of in Ludhiana, Barnala, Dhaula (Punjab) and Budhni (Madhya Pradesh). The company is into the manufacturing of yarn, home textiles, paper and stationary, chemicals and adaptive power.
As per reports, over 35 teams of the I-T Department have come to Ludhiana alone.
Rajinder Gupta, a Ludhiana-based businessman and a Padma Shri awardee, is the chairman of Trident Group.
Last year, he was appointed vice chairman of the State Economic Policy and Planning Board of Punjab for three years by the Punjab Government.
The income tax raids are anticipated to provide insights into the financial transactions and records of the Trident Group, with authorities aiming to ensure compliance with tax regulations.
According to officials, these nationwide raids are part of an investigation into possible financial irregularities.
