Income tax surveys properties of industrialist Raghunath Mittal

Hyderabad: Income Tax department assessment wing has surveyed the properties of Industrialist Raghunath Mittal and his family members in Hyderabad. Raghunath Mittal is the owner of Raghunath Agrotech, one of the leading manufacturers of cotton bales. The business man in 1965 started a cotton ginning facility and years later in 2004, he founded Raghunath Agrotech engaged in renewable energy and real estate business too.

Sources in the income tax departments said that the survey was conducted in Banjara Hills in Hyderabad and Adilabad district of Telangana.

Raghunath Agrotech has seven ginning factories in Telangana and Maharasthra cotton belt area. The company exports raw material to Pakistan, Bangladesh, Vietnam, China and Indonesian markets. The company has a share of 5.75 per cent of cotton exports with annual revenue of more than 100 million US dollars.

Raghunath Mittal is also the director of Raghunath Agro products private limited, Raghunath Agro tech private limited, Swift Agritech private limited, KK Proteins private limited and Vinayaka Spintex private limited.

Income Tax sources said that there is no search on the properties of Raghunath and it is a survey by assessment wing. Registrar of Companies has struck off Speyz Infra Projets private limited and Accords skyscrapers company. One Sanjeev Kumar Mittal is the director of two companies.