NEW DELHI: The Income Tax (IT) department conducted raids at 74 locations linked to G Square/ Lotus Group realtors and Saravana Stores on Friday morning.
NEW DELHI: The Income Tax (IT) department conducted raids at 74 locations linked to G Square/ Lotus Group realtors and Saravana Stores on Friday morning.
Seventy-two of these locations are in Chennai, and the two others are in Coimbatore, said a top Income Tax source.
G Square Realtors Private Limited is a Private incorporated on October 12, 2012. It is classified as Non-govt company and is registered at Registrar of Companies, Chennai. Its authorized share capital is Rs. 100,000 and its paid-up capital is Rs. 100,000. It is involved in Building completion. Similarly, Lotus Ventures & Infrabuild Private Limited is a Private incorporated on September 13, 2012. Both the companies are located in Century Business Centre in TTK Road in Alwarpet.
Both the companies have similar share capital and the directors are Krishnan, Sreejith, Rangaswamy Ramajayam and Sreekala. The details of the directors could not be known. Similarly, there have been similar companies floated by the directors in Harrington Road and other areas also. The Income Tax department has also targetted Saravana Stores and raids are going on.
The premises of Saravana group's owner Yogirathinam Pondurai are also being covered as part of the action, they said. A team of 70 tax officials are undertaking the operation with police assistance, they added.
The department had last month conducted large-scale raids on a number of popular eateries of the state including Saravana Bhawan outlets.