Mumbai: Officials from the income-tax (I-T ) department on Wednesday and Thursday carried out searches at various offices of Bombay Rayon Fashion, a textile company promoted by Janardhan Agarwal. The company is into garments , textile and retail.
The company which had a turnover of around Rs 20 crore in 2000 registered a tremendous growth over the years and in 2008-2009, the turnover went up to Rs 1,500 crore.
The raids were carried out at several places, including Bangalore, sources said. Searches were also carried out at Mudra Synthetics, which was part of the Agarwal family till 1996.