PNB-Nirav Modi fraud: Income Tax Dept attaches Rs 1,200cr SEZ unit of Gitanjali in Hyderabad

The department, in the last few days, has similarly attached nine bank accounts and seven properties of the group and Choksi.

The Income Tax Department today said it has attached a Rs 1,200 crore worth property of the Gitanjali group, located in a Special Economic Zone (SEZ) in Hyderabad, in connection with its tax evasion probe. 

The officials said the property has been provisionally attached under the Income Tax law and the action was taken to "recover outstanding tax demands". 

They said the valuation of the property, in the SEZ at Rs 1,200 crore, has been done by the assessee and the department has put up a notice on the property. 

The department, in the last few days, has similarly attached nine bank accounts and seven properties of the group and Choksi.