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Income Tax Teams Raid Over 50 Locations Of Polycab India In Mumbai; Company Shares Fall

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Mumbai: In a major action by the Income Tax department, the Income Tax teams conducted searches on Polycab India at over fifty locations of the company on Friday (December 22) morning. Polycab is India’s largest electrical wires and cables makers company.

According to reports, offices and residences of top management are also being searched in Mumbai.

The company premises and properties raided includes warehouses and manufacturing facilities as well.

Mumbai-based market leader in wires and cables manufacturing Polycab was earlier raised by the IT department in 2009 following probe into inflated expenses at their manufacturing facilities to show reduced profits and misrepresenting revenues to incur fewer tax liabilities.

As per officials, I-T officials are searching Polycab offices and facilities at Mumbai, Pune, Delhi, Bangalore, Chennai, Baroda (Gujarat), Secundrabad (Andra Pradesh) and Kolkata.

However, there has been no statement or comment issued by the company on the raids.

Company shares fall

The action by I-T department had an adverse impact over the shares of the company. Polycab India shares fell by over 3 per cent after the news of I-T raids on the company and its office properties.

Crime

Two Held With ₹68 Lakh Cash Near India-Myanmar Border In Mizoram; Heroin Worth ₹78 Lakh Seized

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Aizawl: Two persons were arrested with Rs 68 lakh in cash near the India-Myanmar border in east Mizoram’s Champhai district, officials said on Thursday.

Acting on a tip-off, the Assam Rifles intercepted a vehicle at Zote village on August 11, they said.

Upon thorough checking, Rs 60 lakh in cash was recovered from two persons in the vehicle.

The duo, identified as Joseph Lalthansanga and Vanlalruati, could not state any proper reason why they were carrying such a huge amount of cash. They were subsequently handed over to the police for legal action, officials said.

In another operation, the Assam Rifles recovered 94.6 gram of heroin, worth Rs 78 lakh, from the village on Wednesday.

The drugs were handed over to the Excise and Narcotics Department, officials said.

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Crime

Jalgaon Tragedy: 8 Suspects Arrested For Kidnapping, Mob Lynching And Killing 21-Year-Old Suleman Khan

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Jalgaon: Suleman Rahim Khan Pathan, a 21-year-old man, was killed through beating in Jalgaon district of Maharashtra. The incident occurred on Monday when Suleman traveled to Jamner to complete online applications for police recruitment. In the afternoon, as he sat in a cafe with a girl, 8 to 10 men grabbed his mobile phone and unexpectedly assaulted him.

They pulled Suleman to his village and violently assaulted him, making him lose consciousness. When his relatives attempted to rescue him, the assailants reacted with violence towards them as well. Suleman’s 80-year-old grandfather was also affected. The assailants showcased him on the street and struck him with wooden clubs.

Suleman was taken to the hospital by his villagers, where he was pronounced dead by doctors. His father stated that his son was not dating any girl, and during the confrontation, the villagers were unable to assist because of their fear.

According to Suleman’s father, Rahim Khan, on the day of the incident Suleman was working with his father, when around 11 am Suleman told his father he is going to fill up a Police recruitment form after which the people kidnapped and beat him. The people was brought to his home at around 4pm. When the father tried to intervene the mob started attacking him and other members of the family.

Police Arrests 8 Suspects

The authorities have apprehended 8 suspects related to this case up to now. The initial four suspects were apprehended on Tuesday: Abhishek Rajkumar Rajput (22), Ghanshyam also known as Suraj Biharilal Sharma (25), Deepak Bajirao (20), and Ranjan also referred to as Ranjit Ramakrishna Matade (48).

While the other four were taken into custody on Wednesday. All the defendants have been placed in police detention until August 18. The arrests were confirmed by the inspector of the Jamner police station.

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Crime

Palghar News: Young Man Assaulted With Axe In Broad Daylight, Mob Tie Up Attacker Before Police Arrest

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Palghar, Maharashtra: A broad daylight attack in a busy Palghar neighbourhood shocked residents on Wednesday after a young man allegedly assaulted a 35-year-old with an axe, leaving him seriously injured.

The incident occurred around 4 p.m. at the main square in the Kamala Park housing colony on Mahi Road. According to police sources, the accused, believed to be around 27 years old, struck Baboolal Fulchand Yadav in the face with an axe, causing severe injuries. Yadav was immediately rushed to a hospital, where he is undergoing treatment.

Eyewitnesses said the attacker attempted to flee, but local residents intervened, catching him and tying him to a tree with ropes before thrashing him. Police arrived shortly afterward, to control the mob and take the accused into custody 

The motive behind the attack is still under investigation, and the process of registering a formal case in ongoing. The suspect’s identity had not been officially confirmed at the time of reporting.

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