Sources in the IT department said the raids took place in around 20 locations connected to the group. The raid was conducted after a complaint of suspected tax evasion.
Sleuths from the Income Tax department conducted raids on Manipal Group of Hospitals on Wednesday (September 7) at Bengaluru, Manipal and other places.
Sources in the department said that the raids took place at around 20 locations connected to the group, and they were mainly in places in Bengaluru and Manipal in Udupi district.
The IT investigation wing has raided a few companies run by the Group, which includes Manipal Hospital and medical institutions, sources said. The raid was conducted after a complaint of suspected tax evasion.
Around 20 officials of the IT department with the help of local police conducted raids and verified documents at Manipal hospital near Old Airport road, located in the High Grounds police station area. Raids are also being conducted at Manipal Group’s finance division in Manipal town, Udupi district, and other branches at Yeshwanthpur in Bengaluru.
The Manipal Academy of Higher Education (MAHE) and its finance department were also raided and important documents were verified. The Manipal Hospitals group, which had acquired Bengaluru-based Columbia Asia Hospitals and Vikram Hospital, is a part of Manipal Education and Medical Group (MEMG) and is owned by Ranjan Pai. He is the chairman of the Group, which has six colleges and 27 hospitals in the country.
Pai’s Manipal University has overseas campuses in Malaysia, Antigua, Dubai and Nepal as well. This year, Pai is ranked 2,076 on the annual Forbes World’s Billionaire’s List, up 187 positions, with a net worth of $1.4 billion.