Rs 14.5 crore in liquid cash seized during I-T raids in Namakkal

Chennai: Income-Tax department officials have unearthed Rs 14. 5 crore in hard cash after three days of raids at the PSK Engineering Construction Company in Namakkal. The raids concluded today at 2 am.

The searches began Friday against the major infrastructure company that has executed several projects for the Tamilnadu government.

The raids included company owner P S K Periyasamy’s residence and offices and those of his relatives Selvakumar and Shanmugam.

According to reports, apart from the cash, the I-T officials also seized incriminating documents. More than 20 officials of the department from Salem, Namakkal and Coimbatore were involved in the raids that continued for close to 65 hours.

NT Bureau