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IT raids at real estate firms, Saravana Stores
Tamil Nadu

IT raids at real estate firms, Saravana Stores

Chennai, Jan 28 : Officials of the Income-Tax department on Tuesday conducted raids at 74 places belonging to real estate firms and leading retail and textile chain Saravana Stores in Chennai and Coimbatore following complaints of tax evasion.

IT department sources said the raids which began at 72 places in Chennai and two in Coimbatore, were continuing. The raids were being held at Saravana Stores, Perambur-based Revathy Group and realty companies--G Square and Lotus group. The business and residential premises of Saravana Stores promoter Yogarathinam Pondurai have also come under the surveillance of the IT department.

The searches were being held following allegations of tax evasion, GST evasion and unaccounted money, sources said. 'We are also checking if any benami deals were involved', they said. The raids were held at Mylapore, T Nagar in South Chennai and at a number of places in North Chennai including Perambur and Tondiarpet.

Revathy group, based in Perambur, has interests in jewellery, furniture shop, textiles and super markets.

It may be recalled that on January three, the IT department raided a number of restaurant chains, including Saravana Bhavan, Grand Sweets and Snacks and Hot Breads.