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  1. Income Tax dept raid at Chettinad Group firms continues

Income Tax dept raid at Chettinad Group firms continues

The income-tax raid across 30-odd premises of Chettinad Group companies in Tamil Nadu, Hyderabad and Mumbai continued for the second day on Thursday. The raid is likely to continue on Friday too, sources in the department said.

By: | Chennai | Published: June 12, 2015 12:00 AM

The income-tax raid across 30-odd premises of Chettinad Group companies in Tamil Nadu, Hyderabad and Mumbai continued for the second day on Thursday. The raid is likely to continue on Friday too, sources in the department said.

Since the group has a number of premises in three different places, the officials are continuing their search and we cannot say when it will end, an official of the IT department here told FE.

Meanwhile, based on a complaint filed by group’s patriach MAM Ramaswamy, the city police have filed a case against his foster son MAMR Muthiah for various reasons and under IPC sections, including criminal intimidation, sources said. Muthiah’s advocate was not available for comments.

It may be recalled that the officials of IT deparment started their raid at 8 am on Wednesday and went onto do so continuously on Thursday too for possible tax evasion by group companies.

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