Income Tax Raid: "Wedding Party" Officers Seize Gold, Diamonds and Cash

By John Jeffay / August 15, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Income tax officials in India posed as a 250-strong wedding party in a series of raids that netted undeclared gold, diamonds and cash worth $49m.The Income Tax department (IT) used 120 vehicles in the operation, decked out for a baarati, or the wedding procession that accompanies a bridegroom to the venue.They raided premises, warehouses, and farmhouses linked to two steel, clothing, and real estate businesses in the Jalna and Aurangabad districts of Maharashtra state.The officers seized $7m in cash, 32 kgs of gold, and diamonds worth $1.7m.

Recent News

Gold stocks decline as metal price drops

June 29, 2026 / www.canadianminingreport.com

Tech takes a hit on South Korea semiconductor decline

June 29, 2026 / www.canadianminingreport.com

Gold stocks rise even as metal drops for second week

June 22, 2026 / www.canadianminingreport.com

Base outperform precious metals in slowdown from 2025 boom

June 22, 2026 / www.canadianminingreport.com

Mining stocks not looking expensive versus returns

June 15, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok