The Income Tax Department raided the house of a quarry owner in Hosur on Sunday, and seized ₹1.20 crore in unaccounted cash.
M. Lokeshkumar (35), a resident of Jalakandeswarar Nagar at Seetharammedu in Hosur, owns a quarry in the district. During a vehicle check on March 28, the flying squad officials seized ₹ 10 lakh in unaccounted cash from Mr. Lokeshkumar’s car at the Jujuvadi checkpost. The flying squad reported the cash seizure to the Income Tax Department.
Meanwhile, on Saturday night around 11 p.m., a six-member team of the Income Tax Department arrived at Mr. Lokeshkumar’s residence and conducted raid. On Sunday morning, the officials seized ₹ 1.20 crore in cash from the house. Sources said that the Income Tax officials also found more than 60 sovereigns of jewellery in the house. The raid continued late in the evening on Sunday.
