The Income-Tax Department on Wednesday performed raids at a number of places of Chennai-based Chettinad group in reference to a tax evasion probe, officers mentioned.
The division on its official Twitter deal with mentioned the motion was being undertaken towards a “prominent business group of Chennai having varied business activities.”
“About 60 premises are being covered in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra,” an official mentioned as he recognized it because the Chettinad group.
They mentioned over Rs 7 crore “unaccounted” money has been recovered from “a key person” until now and the raids have been nonetheless on.
The about 100-year-old Chettinad group has pursuits in a number of companies like building, cement, energy and others.