IT team conducts raids at sites of Payal Cinema owner

Jamshedpur : A six-member team of the income-tax (I-T) department from Ranchi on Tuesday conducted raid at offices and residence of city- based leading cinema hall owners and businessmen Rahul Sawa and his brother Vishal Sawa.

The raids were carried out in residences and offices located at Mango, Sakchi and Sonari. Sawa owns Payal Talkies at Mango and is also into real estate business.

Sources informed that the team seized several documents from their offices. The raids that started at 12 noon continued till late evening.

The team is also probing into the business deals and disproportionate assets of the businessmen who have several flourishing business in the steel city.

The IT officials have sealed bank accounts and sources confirmed that huge amounts of disproportionate assets have been amassed by the traders.