Note ban: Income Tax department raids TN chief secy Rao's residence in Chennai

The raids at Rao's residences reportedly began at 5:30am although no seizure has been made, News18 said. The report added that the raid was conducted based on tip-offs from some road contractors.

Image
BS Web Team
Last Updated : Dec 21 2016 | 10:49 AM IST
The Income Tax department on Wednesday conducted a raid at Tamil Nadu Chief Secretary P. Rama Mohana Rao's residence in Anna Nagar, Chennai, media reports said.

As per media reports, the raids are in connection with Rao's alleged links sand mining baron Babu Sekar Reddy.


The raids at Rao's residences reportedly began at 5:30am although no seizure has been made, News18 said. The report added that the raid was conducted based on tip-offs from some road contractors.

According to reports, Rao had been under the I-T scanner for a while.

 The I-T department recently seized  177 kg of gold and cash amounting to Rs96 crore in withdrawn 500 and 1,000 rupee notes and Rs.34 crore in the new denomination from three businessmen — J. Shekhar Reddy, Srinivasalu and Prem. 

The Central Bureau of Investigation and ED have registered cases against Reddy as well as his two accomplices.

The big fish is said to be Reddy, a contractor and who has executed works for the Tamil Nadu government.

Rao was appointed  the chief secretary in June this year.
 
More details are awaited
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 21 2016 | 10:40 AM IST

Next Story