Rs 163 Crore Cash and 100 kg Gold Biscuits Seized In Tamil Nadu

Chennai : 

The Income Tax department has seized Rs 163 Crore cash and about 100 kg of gold biscuits from the premises of contractor Nagarajan Seyyadurai, promotor of SPK & Co, and his associates.

“About Rs 163 crore cash, which is suspected to be unaccounted, and bullion and gold jewellery weighing about 100 kg have been seized so far. The raids are still going on,” a senior official of the IT department said.

A statement from the Income Tax Directorate said that the main firm is engaged in civil construction work, mainly highways and bridges. Its has other businesses of hotel, blue metal and toll ways.

The searches took place in about 22 places in Chennai, Vellore, Madurai and Aruppukottai on Monday and continued till today.

Nagarajan had kept only Rs 25 lakh in cash in his house and the remaining cash and gold in 10 different places belonging to his employees and associates, said the statement.

Apart from the unaccounted assets, several documents, diaries and registers, hard discs and two BMW cars were also seized.

Further investigations were on, the statement said.