Lagatar24 Desk
Chennai/New Delhi, April 24: The Enforcement Directorate (ED) conducted searches at numerous locations connected to the Chennai-based Chettinad Group on Monday as part of an investigation under the anti-money laundering statute, according to official sources.
There have reportedly been raids on premises in the state capital Chennai, Trichy (Tiruchirappalli), and a few other locations.
The almost 100-year-old business group has interests in a number of industries, including cement manufacturing, logistics, and construction.
The company was searched by the income-tax department in December 2020, and they asserted that they found evidence of more than Rs 700 crore in tax evasion.
The I-T department’s administrative body, the Central Board of Direct Taxes (CBDT), released a statement in this regard and claimed to have discovered Rs 23 crore in “unaccounted” cash during these searches.
