Chennai: Sleuths of Income Tax (I-T) department today conducted simultaneous raids at the campuses of Dhanalakshmi Srinivasan group of institutions. Few land documents have been seized during the raids, sources said.
The group has interests in schools, colleges and chit fund business with its headquarters in Perambalur. Its educational institutions have campuses in Trichy, Coimbatore and Chennai. All of them are being being raided by a 120-member IT team.
In the city, raids are taking place at T Nagar, East Tambaram and Mahabalipuram, a source said. “The I-T teams are searching over 10 places in Perambalur including a medical college run by the institution at Siruvachur and a chit fund branch office. The residences of the institution’s founder Srinivasan in Trichy and vice-president of the college, Kathiravan are also being raided. The properties of other higher officials in the business are also being searched,” the sources said.
A team of I-T officials left for the the operation at 2 am, reaching various campuses in Tamilnadu by 4 am. The raids began simultaneously at 7 am, including the Dhanalakshmi Engineering College campus in Mahabalipuram.
A highly placed source in the department said, “A strong team of 120 I-T officers had started raids early this morning at 50 places. They fanned to various places including T Nagar, Perambalur and East Tambaram areas. The raid is taking place based on a tax evasion petition the department received. We have started the searches at the group’s educational institutions and we will also search its other businesses like the chain of chit fund.”
Dhanalakshmi Srinivasan group had 65 branches of chit funds in South India including Andhra Pradesh, Hosur, Salem, Erode and Tirupur.
Speaking to News Today, a spokesperson of the company said, “Our businesses are all approved. The raids are routine, someone gave some kind of information so based on that they are conducting raids.”
|* I-T sleuths conducted simultaneous raids at the campuses of Dhanalakshmi Srinivasan group of institutions.|
* Few land documents have been seized during the raids, sources said.
* The group has interests in schools, colleges and chit fund business with its headquarters in Perambalur.
* Its educational institutions have campuses in Trichy, Coimbatore and Chennai.
* Political links of the group are also being probed, sources said.