I-T officials raid GMR properties across India

Income Tax department officials are conducting raids across the properties of infrastructure company GMR all over the country on suspected tax evasion, sources told CNBC-TV18.

The search and seizure operations at the company's Bangalore, Mumbai, Hyderabad and Delhi offices are being carried out by the investigation wing of the IT department.

A GMR spokesperson confirmed the development, but refused to provide more information.

At 12:56 hrs, shares of GMR Infrastructure  were quoting at Rs 23.00 apiece, down Rs 0.25, or 1.08%.

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