Income Tax Sleuths Seize Rs 160 Cr. And 100-Kg Of Gold Bars ….!

The Income Tax Department sleuths carried out a simultaneous raid on Monday at the premises of Ms. SPK and Company, a partnership firm engaged in road and highway construction all over Tamil Nadu and seized. Rs 160-crore of unaccounted money and 100-kg of gold bars.

The construction firm, the director of which is a close kin of TN Chief Minister Edapadi Palanisamy came under the radar of the IT department for tax evasion.

The raids were carried out on several premises of a road construction firm in Tamil Nadu, for on Monday and Tuesday.

Calling it the highest ever seizure anywhere in the country, the IT sleuths said that the previous highest was Rs.110 Cr. when the raids were carried out in the properties of mining baron Shekar Reddy, who is also seen close to Deputy Chief Minister O. Panneerselvam.

Interestingly enough the cash was found to be hidden in travel bags and in parked cars in the premises.

The search might go on for another day and the IT department is expected to seize more money from the many premises of the firm