Staff Reporter

NEW DELHI: The Income Tax Department is conducting searches at the Pearl Agro Corporation Limited offices that reported a Rs. 1.5-crore robbery this past week. It is learnt that a huge amount of cash and documents have been seized.

On August 22 some employees of the company had lodged a complaint at the Paschim Vihar police station alleging that three of them were robbed of Rs. 1.5 crores while they were on their way to deposit the money in a bank. The complaint turned out to be a hoax as the money allegedly had been stolen by three of its employees, identified by the police as Vijay Pal, Radha Krishan Sharma and Munna Mahato.

Subsequently they were arrested and the money was allegedly recovered from the residence of one of their relatives.

However, news about the theft of such a huge amount of cash alerted the Income Tax Department whose sleuths raided the company's Paschim Vihar building on Friday night. "The exercise is meant to assess the worth of the company and to find out if there were any discrepancies in its financial documentations and disclosures," said an official.