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I-T raids finance firm, gold dealer in Coimbatore

Press Trust of India  |  Coimbatore 

department officials today carried out raids in four branches of a Kerala-based company involved in gold loan business and a gold here.

The raids were conducted based on information that the had transacted huge money reportedly through the Kottayam-headquartered 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 18:05 IST