Chennai: Income tax officials who searched Saravana Stores ‘Brahmandamai’ and realty firms Lotus Group and GSquare in Chennai and Coimbatore for more than a week had to dig up some graveyards to unearth unaccounted cash, documents, gold and diamonds, worth several hundred crores of rupees.
In all, Rs 433 crore of unaccounted income has been unearthed at the three business establishments. About 25 crore in cash, 12kg gold and 626 carats diamonds were also seized.
The simultaneous searches at 72 places belonging to Saravana Stores owner Yogarathinam Pondurai, his associate Ramajayam Alias Bala, owner of Lotus Group and GSquare, and their associates would have come a cropper if not for the leads officials got about a vehicle carrying valuables and documents doing the rounds in Chennai.
PNN