Christy evaded Rs 1,350 crore income-tax?

By NT Bureau Published on Jul 11, 2018 01:32 PM IST

Chennai: After week-long raids at over 70 locations linked to Christy Friedgram Ltd and Agni group of companies, Income Tax Department has reportedly found that the firms have evaded taxes to the tune of Rs 1,350 crore.

Investigations are on and officials are waiting for more details to unfold.

Income Tax Department started raiding the premises of Christy Friedgram Ltd last Thursday.

While unearthing crucial information about tax evasions and hold of unaccounted money, there were also sensational dramas like an employee jumping off the first floor during investigations on Friday.

Still nothing could deter the officials from continuing their operations. On Saturday, they seized Rs 17 crore cash, 10 kg worth gold and property documents.

On Sunday, the officials also seized electronic storage devices and laptops from the raid locations. Bank account details of many employees were checked.

A large number of immovable benami assets were also taken possession off, reports said. I-T department has found evidences of tax evasion, strategies to convert black money during demonetisation and huge bribes paid to different political parties, it is said.

Tamilnadu Civil Supplies Corporation MD Sudha Devi and contractor TS Kumaraswamy too were brought under scrutiny.

Christy Friedgram is a major supplier of egg, protein and pulses to Tamilnadu government since 1990s.


Officials have reportedly found an alleged transaction of Rs 245 crore carried out by the firm through a State cooperative bank during demonetisation. Also, sleuths seized over 100 pen drives from one of the locations which revealed that payments were made by the firm to leading political parties.