I-T raids finance firms, gold dealer in Coimbatore

By PTI Published on Mar 15, 2018 01:02 PM IST

Coimbatore: Income Tax department officials yesterday carried out raids in four branches of a Kerala-based finance company involved in gold loan business and a gold dealer here.

The raids were conducted based on information that the dealer had transacted huge money reportedly through the Kottayam-headquartered finance firm having branches across the city during the demonetisation period, police said.

A seven-member team of I-T officials raided the office and house of the owner of the gold dealing company. They reportedly found a large number of transactions had taken place through his account during the period when the high value currency notes were scrapped in 2016 November, they said.