Raids continue at Chettinad Group for second day

Income Tax department continued their raids for the second day against the Rs 10,000-crore business conglomerate Chettinad Group of Companies at its premises in three states.
Meanwhile, following a complaint from group's Chairman Emeritus M A M Ramaswamy, police have filed a case against his disowned adopted son M A M R Muthiah whose original name is S Ayyappan under various IPC sections including criminal intimidation.
IT officials commenced the raids yesterday at 35 places belonging to the Group in Tamil Nadu, and two places each in Hyderabad and Mumbai, sources said.
Ramaswamy had on June 9 declared that he has disowned Muthiah whom he adopted in 1996.

During a press meet recently, Ramaswamy had alleged that Muthiah owed a huge amount of dues to the Service Tax department.
Ramaswamy had said, "the Service Tax Department Secretary had asked him (Muthiah) to pay Rs 252 crore first".

He said he had written and registered a will that all the assets which may be left at the time of his death would go only to the newly formed trusts - Dr M A M Ramaswamy Chettiar of Chettinad Charitable Trust and Dr M A M Ramaswamy Chettiar Trust.
The 84-year-old philanthropist and former Rajya Sabha MP stated that the assets would not go to Muthiah or anyone claiming on his behalf or under him. He had also said Muthiah would not perform any ceremonies or obsequies on his demise.

"I have disowned him and do not wish to call him my son," he had said.
The family feud in the Group that has business interests across various verticals like cements, hospitality, education, came to the fore after Ramaswamy was not elected as a Director in the AGM of Chettinad Cement Corporation, the group's flagship company, last year.