Chennai: Sleuths of the Income-Tax (IT) department carried out searches at places related to a mining and earth movers company in the city this morning.
According to preliminary reports, the raids began at the office’s main office at Peter’s Colony, Nanganallur and simultaneously at nine other offices of the same company.
The I-T department, it is said, detected illegal transactions in the books of accounts and launched the raid. As many as 50 officers were involved in the raids. Sources said a team from Delhi was carrying out the searches.
Sources said the I-T department received a tip off about crores of money being siphoned into other accounts without it being reflected in the actual accounts. However, details of the teams involved in the raids and any kind of seizure is yet to be confirmed.
For now, officials have maintained it as a ‘survey’.