I-T department raids Chettinad Group offices, properties

Move comes after Group chairman says Chettinad Cements owes huge sum to commercial tax dept

The Income Tax department is conducting search operations at the offices and properties of the Chettinad Group since early Wednesday morning, sources revealed.  

Department officials said, on condition of anonymity, that as many as 400 I-T department personnel are involved in the search operations across 25 locations.

The development comes a day after former Chairman M A M Ramaswamy of Chettinad Group alleged that Chettinad Cements, which is managed by his adopted son M A M R Muthiah, owes a huge sum to the commercial tax department. He claimed the company owes other tax dues, too.

While Muthiah was not available for comment immediately, sources in the department said search operations started at 8 a.m. across Chettinad Group offices and properties.

The Chettinad Group has a presence in cement, education, health care and other sectors.