Income Tax (I-T) officials today carried out search operations at the offices of infrastructure major Gammon India in four cities. A company spokesperson told PTI that some officials had visited the premises but “we do not know what is happening”According to sources, I-T officials have been carrying out the search in four offices of the company in Delhi, Mumbai, Nagpur and Vadodara. “The search started in the morning and is going on,” a source said.
In its website, the company claims it “is not only the largest civil engineering construction company in India, but can lay claim for the largest number of bridges built in the whole of Commonwealth (group of countries)”.
Last year, the company, which is a contractor of Delhi Metro, was in news after an accident at a construction site that killed six people.
The company, was also found guilty of negligence in a similar mishap in 2007, where a flyover in Hyderabad collapsed killing two people.
Gammon India’s had posted a net profit of Rs 144.79 crore last fiscal and sales were at Rs 4471.79 crore. The company’s shares touched an intra-day low of Rs 210.25 on the Bombay Stock Exchange, before closing the day at Rs 224.75 per share, up 4.29 per cent from the previous close.