The Income Tax department has recovered around Rs 4.5 crore worth of cash from Ahmedabad-based Riddhi Siddhi Gluco Biols Ltd during one of its raids, said a well-placed source to DNA on Saturday. The sleuths raided the premises of several offices of the company as well as residences of top officials.They suspect benami transactions, suspicious land deals as well as evasion of tax as well.Sources said the raid begun on Friday evening at company headquarters near Bopal as well as residents of top officials and continued till Saturday.According to reports, bank lockers of the company were also sealed. The department is also interrogating top officials of the company."We have recovered about Rs 4.5 crore worth of cash. This is a huge chunk," said an official.The I-T department has also unearthed incriminating documents related to the giving of gifts, land deals as well as benami transactions. Company officials said that such behaviour is very unlikely of a company that has been listed on the bourses. Sources said that they are also suspecting tax evasions, for which investigations are on.

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Lockers Sealed

Sources said the raid began on Friday evening at company headquarters near Bopal as well as residents of top officials and continued till Saturday. According to reports, bank lockers of the company were also sealed. The department is also interrogating top officials of the company