Chettinad Group is the target of ED searches in Tamil Nadu.
The I-T department's administrative body, the Central Board of Direct Taxes (CBDT), issued a statement about this and claimed to have seized "unaccounted" cash worth Rs 23 crore during these searches.
The Requirement Directorate (ED) on Monday led look at various premises connected to Chennai-based Chettinad Gathering as a feature of an examination being led under the counter tax evasion regulation, official sources said.
They stated that buildings in Chennai, the state capital, Trichy (Tiruchirappalli), and a few other locations are being searched.
The business group, which is about 100 years old, has interests in construction, logistics, cement manufacturing, and other areas.
In December of 2020, the Income Tax Department conducted a search of the company and claimed to have discovered tax evasion totaling more than Rs 700 crore.
In this regard, the I-T department's administrative authority, the Central Board of Direct Taxes (CBDT), issued a statement and claimed to have seized "unaccounted" cash totaling Rs 23 crore during these searches.
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