Liquor baron Ponty Chadha on Thursday refuted reports that cash to the tune of Rs 100 crore has been seized from a mall owned by him in Noida near here during searches carried out by the Income Tax officials.

In a statement, Wave Infratech owned by him said widespread rumours and wrong information have been circulated to tarnish the image of the group with "malafide intention".

Denying allegations of tax evasion,it said Chadha's group of companies have been regularly paying taxes and meeting other statutory requirements.

"The activities of the group relate purely to business and none of the companies/concerns have any affiliation or association with any political person or party," the statement said.

It said Income Tax officials, who visited the basement floor of Centre Stage Mall, did not find any cash from a safe lying there, contrary to reports that Rs 100 crore or about have been found and seized from the safe.

"There is no income which remains undisclosed to the government authorities," it said adding that the Chadha Group was extending full cooperation and assistance to the IT officials.