Rs 125 Crore Unearthed in Faridabad: I-T Raids Expose Builders, Schools, and Hidden Wealth Under India’s Anti-Black Money Laws
Income Tax Department Seizes Cash, Gold, and Diamonds in Mega Operation Across 50 Locations
Raids Highlight India’s Tough Laws Against Black Money and Tax Evasion
By Legal Reporter
New Delhi: February 11, 2026:
In one of the biggest crackdowns on hidden wealth in recent years, the Income Tax Department has unearthed undisclosed assets worth more than ₹125 crore during raids in Faridabad, Haryana. The operation, which spanned four days and covered nearly 50 locations, targeted builders, school owners, private security agencies, and companies suspected of large-scale tax evasion. Officials seized ₹22 crore in cash, along with significant quantities of gold, silver, and diamond jewellery, exposing the deep-rooted problem of black money in India.
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The Raids: What Was Found
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- Cash Seized: Over ₹22 crore in unaccounted currency.
- Jewellery: Gold, silver, and diamonds worth several crores.
- Digital Evidence: Large volumes of financial records and electronic data.
- Scope: Nearly 50 premises searched simultaneously to prevent concealment.
The raids were conducted on prominent builders, reputed schools such as Modern DPS, and companies like Auric Builder. Around 50 teams worked in coordination, ensuring that no assets could be moved or hidden during the operation.
Legal Framework: Anti-Black Money and Income Tax Laws
India has strengthened its legal framework to curb black money and tax evasion. The Faridabad raids are a direct application of these laws:
- Income Tax Act, Section 132: Allows search and seizure operations when authorities suspect undisclosed income or property. Officials can enter premises, break locks, and seize assets.
- Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015: Targets undisclosed foreign assets and income, imposing heavy penalties and prosecution.
- Benami Transactions (Prohibition) Act, 1988 (amended in 2016): Prevents individuals from holding property in someone else’s name to conceal ownership.
- Prevention of Money Laundering Act (PMLA), 2002: Ensures that proceeds of crime, including tax evasion, can be investigated and confiscated.
These laws collectively empower authorities to act against individuals and companies hoarding unaccounted wealth, whether in cash, property, or jewellery.
Why These Raids Matter
The Faridabad raids are not just about one city or one group of builders. They highlight:
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- The scale of tax evasion in India’s real estate and education sectors.
- The government’s commitment to cracking down on black money.
- The importance of compliance with tax laws for businesses and individuals.
Such operations also serve as a warning to others who may be tempted to hide income or assets.
Broader Impact on Society
- Economic Transparency: Raids discourage illegal hoarding of wealth and promote accountability.
- Public Trust: Citizens gain confidence when authorities act against corruption.
- Revenue Collection: Seized assets and penalties contribute to government revenue.
- Deterrence: Fear of raids and prosecution discourages tax evasion.
Expert View
Tax experts note that while raids are effective, long-term solutions lie in strengthening digital monitoring, improving tax compliance systems, and encouraging voluntary disclosure of income.
Conclusion
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The Faridabad raids underline India’s aggressive stance against black money and tax evasion. With ₹125 crore worth of undisclosed assets already detected, the operation is a reminder that the law is catching up with those who attempt to bypass it. As scrutiny of seized material continues, more revelations are expected, reinforcing the message that India’s anti-black money laws are not just on paper—they are being enforced with full force.
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