The Enforcement Directorate (ED) conducted simultaneous raids at more than 10 locations across Chennai on Wednesday.
Key inspections included the Chaitanya apartment complex in Kilpauk, home to iron merchant Nirmal Kumar, as well as premises in Saidapet, Kotturpuram, KK Nagar, MGR Nagar, Sowcarpet, and Kodambakkam.
The raids involved around 21 vehicles and targeted residences including those of Kalaichelvan and Prakash in Srinagar Colony and Ambattur respectively.
The action reportedly stems from complaints concerning illegal money transactions, with further details awaited upon completion of the operation.
The extensive ED activity has caused a significant stir in the city.