I-T raids in Chennai chit fund firm

By NT Bureau Published on Apr 19, 2017 02:55 PM IST

Properties of Gokulam Group were searched by Income-Tax officials today.

Chennai: In less than a fortnight of raiding 35 places in Chennai and various parts of Tamilnadu, the Income Tax department is today back in action in full swing, as it conducted fresh raids at the properties of Gokulam Chit Fund group.

Sources said that around 80 places across Tamilnadu, Puducherry, Kerala and Bengaluru were being raided including 36 places in Chennai. The group's hotel, office and other properties in the city were being searched.

The properties of the firm at Trichy and Coimbatore were also searched. Around 500 officials were involved in the raids. The finance company has produced several movies and recently launched G Studios in Chennai.

Various prominent personalities from the film industry attended the studio's launch event in the city Sunday last.

A source said that former Tamilnadu Chief Minister J Jayalalithaa held shares with the company and her close aide VK Sasikala was a nominee. The company came under the Income Tax department's radar after Jayalalithaa's shares were transferred to Sasikala after her death, it is said.