Nagpur: Creating ripples in the Construction Industry, a large team of 110 Income Tax sleuths swooped down on the office and residences of Ratnakar M. Gutte who is the Founder & Chairman and Sunil Gutte Managing Director of Sunil Hitech.
According to sources, the IT sleuths raided the residential and the official premises of Sunil Hitech early in the morning.
According to sources, the owners of Sunil Hi Tech have a very profitable Sugar Factory in Western Maharashtra.
At Nagpur and Vidarbha they are involved in Maintenance of Power Industries and Construction industry. Sources added that in the recent past they have been involved in Movie Productions too. They had taken out two-three Marathi movies too.
Sunil Hitech Engineers Limited (SHEL) is a major Engineering, Procurement & Construction (EPC) Company in India. The Company started its journey as M/s. Sunil Engineering Works (SEW) in 1984, a proprietary company led by Ratnakar M. Gutte. In 1998, the company got incorporated as Sunil Hitech Engineers Pvt. Ltd. Since then the company has been involved in Power, Construction and Infrastructure industries. The company was converted into Sunil Hitech Engineers Ltd (“SHEL” or “The Company”) on, August 18, 2005.
Reliable sources claimed that their shares in the stock market is and has been in good position so far. On December 15, 2015, their shares in the stock market had been Rs 333.25 at closing which fell down by 2.5% on December 16, 2015 and at 3 pm, their shares were at Rs 325.40 points. Sources also added that their Bank has allegedly declared their account as NPA.
Nagpur Today tried to talk to Sunil Gutte but repeated calls to his cell phone went unanswered.