<h1>Income Tax Raid on Pune-Thane Start-Up Uncovers Rs. 400 Crore Fraud, Foreign Funding, and Hawala Network.</h1> The Income Tax Department conducted a search operation on a unicorn start-up group based in Pune and Thane, involved in wholesale and retail of construction materials, with an annual turnover exceeding Rs. 6,000 crore. The operation covered 23 locations across several states, uncovering bogus purchases, unaccounted cash expenditures, and accommodation entries totaling over Rs. 400 crore. The group's directors admitted to these practices and disclosed additional income of more than Rs. 224 crore. The investigation also revealed foreign funding through Mauritius and a hawala network involving Mumbai and Thane-based shell companies, with accommodation entries exceeding Rs. 1,500 crore. Unaccounted cash and jewelry were seized, and further investigations are ongoing.