The Income Tax department conducted raids in Tamil Nadu and Andhra Pradesh.
The Income Tax department launched search operations at around 100 locations of Tirunelveli-based mining company VV Minerals and its owner S Vaikundarajan on Thursday morning.
Among other locations, the department also raided a television channel owned by the group. Reports suggest that raids were conducted followed by a number of surveys and queries after the department was informed that the company and its associates were evading taxes and procuring unaccounted income.
VV Minerals is among country’s largest garnet exporting companies. It’s owner Vaikundarajan is considered close to AIADMK and its leaders. Raids are also being conducted in the premises of Sukumar, Chandresan and Manikandan in Andhra Pradesh.
The Income Tax department conducted raids in Tamil Nadu and Andhra Pradesh after receiving a tip off regarding alleged export of beach minerals even after a ban. The company has also been routing money abroad, officials said.