Tracking the probe on Sekhar Reddy's illegal money trail — Gold, cash and murky deals

Day 2 of Chennai IT raids: More gold, cash seized

The Investigation Directorate of Income Tax Department has seized Rs. 96.89 crore of demonetised notes, Rs. 9.63 crore of Rs. 2000 notes and gold weighing 127 kg worth Rs. 36.29 crore in Chennai from three men — Sekhar Reddy, Srinivasa Reddy and Prem.

The taxmen began their search on December 8 at eight premises (six residential & two offices).

According to a statement from Meenakshi J. Goswami, Commissioner of Income Tax (Media and Technical Policy) Official Spokesperson, CBDT, “The group is engaged in sand mining. The group has sand mining licence for the entire state of Tamil Nadu.

A senior income tax official on Friday told The Hindu that the search is still in progress in 4 out of the 8 premises.

More specific details including modus-operandi would emerge after examination of the documents and other evidence detected during the search.

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Printable version | Jan 16, 2021 12:14:26 AM | https://www.thehindu.com/news/national/tamil-nadu/Day-2-of-Chennai-IT-raids-More-gold-cash-seized/article16785068.ece

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