Chennai: The income tax department for the second day on Wednesday continued raids at popular retail chain Saravana Stores, Perambur-based Revathy Group and realty companies - G Square and Lotus Group.
According to reports, the I-T officials have seized Rs 15 crore from several outlets of Saravana Stores in the city. However, the officials did not divulge information about the documents which they confiscated during the raids.
The raids began on Tuesday morning in 74 places in Chennai and Coimbatore after claims of tax evasions surfaced. The 800-people-strong team visited offices and houses related to the business groups and went through books of accounts and other documents, looking for any illegal or benami deal. It is alleged that 40 teams stayed on the premises on Tuesday night to continue the searches on Wednesday.
Earlier this month, popular eateries like Saravana Bhavan, Grand Sweets & Snacks were raided following allegations of tax evasion.