India News | I-T Dept Raids Chettinad Group of Chennai; Rs 7-cr Cash Recovered
Get latest articles and stories on India at LatestLY. The Income-Tax Department on Wednesday conducted raids at multiple locations of Chennai-based Chettinad group in connection with a tax evasion probe, officials said.
New Delhi, Dec 9 (PTI) The Income-Tax Department on Wednesday conducted raids at multiple locations of Chennai-based Chettinad group in connection with a tax evasion probe, officials said.
The department on its official Twitter handle said the action was being undertaken against a "prominent business group of Chennai having varied business activities."
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"About 60 premises are being covered in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra," an official said as he identified it as the Chettinad group.
They said over Rs 7 crore "unaccounted" cash has been recovered from "a key person" till now and the raids were still on.
The about 100-year-old Chettinad group has interests in several businesses like construction, cement, power and others.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)