Income tax raids on Indiabulls offices cause share drop. The company, involved in finance, lending, and real estate, saw shares fall after raids in Delhi and Mumbai.
The Income Tax department raided Surat's real estate developers, seizing Rs.8 lakh in cash and Rs.45 lakh in jewelry, aiming to recover around Rs.100 crore.
I-T officials uncover shady real estate dealings in Ahmedabad, focusing on brokers and undisclosed income during recent raids.