In a major crackdown by the Income Tax department on Wednesday, the Ahmedabad department officials raided 24 locations of SAL Group of Companies. Director Rajendra Shah, his son Karan Shah and other board of directors of the company are under I-T department’s radar.
A team of around 100 I-T officials are deployed for the raid at SAl Alloys, SAL Medical College and SAL hospital in Gujarat. Residential areas and branch offices of the group are also raided.
Raiding more than 24 places, the IT officials are believed to have unearthed undisclosed income from these business houses.
The investigation began on Dec 8, 2021 and it’s still under process.
Shah Alloys
Shah Alloys Limited is a Public incorporated on 23 November 1990. It is classified as Non-govt company and is registered at Registrar of Companies, Ahmedabad. Its authorized share capital is Rs. 350,000,000 and its paid up capital is Rs. 197,975,008. It is inolved in Manufacture of Basic Iron & Steel. The company’s products include stainless steel billets, stainless steel plates, stainless steel bright bars, stainless steel angle bars and stainless steel hot rolled coils. Shah Alloys has its steel plant in Ahmedabad.
SAL Education
SAL Education is a group of seven institutes in one Campus at Ahmedabad. They were administered by the Adarsh Foundation established in 2009. Adarsh Foundation is the CSR arm of the Shah Alloys Limited, a major steel production company of India. It is located in 19, 20, opp. Science City, Sola, Ahmedabad, Gujarat.
