CHENNAI: Income tax searches at the premises of highways contractor Nagarajan Seyyadurai, who's the promoter of SPK & Co, and his buddies continued for the second one day on Tuesday.
Searches began in more than 20 places in Chennai, Vellore, Madurai and Aruppukottai on Monday. I-T officers had seized Rs 163 crore in cash and 100kg of gold till Tuesday afternoon.
A observation from the Income Tax Directorate of Investigation said the searches began in response to meticulous pre-search investigations and surveillance.
"The main firm is engaged in civil construction work, mainly highways and bridges. Its sister concerns are engaged in the businesses of hotel, blue metal and toll ways," said the observation.
Nagarajan had saved simplest Rs 25 lakh in cash in his space and parked the remainder cash and gold in 10 other places belonging to his employees and colleagues, said the observation.
Apart from the unaccounted property, a number of documents within the form of unfastened sheets, diaries and registers, pc hard discs and two BMW vehicles had been additionally seized.
Further investigations had been on, the observation said.
Searches began in more than 20 places in Chennai, Vellore, Madurai and Aruppukottai on Monday. I-T officers had seized Rs 163 crore in cash and 100kg of gold till Tuesday afternoon.
A observation from the Income Tax Directorate of Investigation said the searches began in response to meticulous pre-search investigations and surveillance.
"The main firm is engaged in civil construction work, mainly highways and bridges. Its sister concerns are engaged in the businesses of hotel, blue metal and toll ways," said the observation.
Nagarajan had saved simplest Rs 25 lakh in cash in his space and parked the remainder cash and gold in 10 other places belonging to his employees and colleagues, said the observation.
Apart from the unaccounted property, a number of documents within the form of unfastened sheets, diaries and registers, pc hard discs and two BMW vehicles had been additionally seized.
Further investigations had been on, the observation said.
I-T finds Rs 100cr cash at TN contractor's firm
![I-T finds Rs 100cr cash at TN contractor's firm]()
Reviewed by Kailash
on
July 17, 2018
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