I-T raids at properties of Akhilesh Yadav's aide and real estate businessman Ajay Chaudhary in Noida, Delhi

The Income Tax sleuths are conducting raids at properties linked to Ajay Chaudhary, CMD of Noida-based real estate company Ace Group. The raids are underway at 40 sites in Noida, Agra and Delhi.

Ajay Chaudhary is believed to have close contact with Samajwadi Party supremo and former Uttar Pradesh CM Akhilesh Yadav, India TV's Devendra Parashar reported.

The I-T officials are conducting searches at the corporate office of Ace Group, some of the residential and commercial projects. The raids are underway at the company's office in Greater Noida as well.

According to I-T officials, raids are being conducted as part of a tax evasion investigation against the company and others. They confirmed that offices and other locations of the group in Noida, Greater Noida and some linked persons in Agra are being covered as part of the searches. The I-T team is examining the hard disk and digital equipment of the builder. They are also examining the balance sheet of the company.

The realtor has commercial and residential projects in Noida, Greater Noida and some other locations in the national capital region.

Meanwhile, I-T raids are also underway at properties linked to Harsimran Singh Alagh, a promoter of Nuova Group in Agra.

A number of businessmen are on the radar of the Income Tax Department. Recently perfume businessmen Pushapraj Pampi Jain and Piyush Jain and others were raided by the I-T Department. Piyush was arrested and produced before a court, which had remanded him to 14 days judicial custody. As of now Pampi Jain has not been arrested.