Chennai: Income-tax officials continued their raids at the premises of Chettinad group on Thursday for the second day.“Apart from documents relating to a number of suspected benami transactions, we seized some more liquid cash on Thursday as well. On Wednesday more than Rs 2 crore was seized. On Thursday also, the raids resulted in the seizure of more than Rs 4 crore,” I-T sources said.
We hope to complete the raids by Friday, an I-T official said. Legal adviser of the Chettinad group told DC that except the Chettinad group head office on Anna Salai, raids and searches in other places by I-T investigators came to an end by Thursday afternoon.
Teams from the I-T department started the search operation in 39 places belonging to the group, which is now caught in a family feud over property rights, on Wednesday morning across the country. The I-T swoop happened a day after M.A.M. Ramaswamy, former chairman of the group, disowned his foster son M.A.M.R. Muthiah, the present MD of the group.
