160 crore cash, 100 kg gold seized in raids on Tamil Nadu contractor

On Monday, the officials of Income Tax Department conducted raids at several premises of a road construction firm in Tamil Nadu and seized Rs 160 crore cash and 100 kg gold.

 

The officials conducted raids on the premises of Ms SPK and Company, a partnership firm engaged in road and highway construction, on contract from the government.

 

 

A senior official said, “About Rs. 160 crore cash, which is suspected to be unaccounted for, and bullion and gold jewellery weighing about 100 kg has been recovered so far. The raids are still on and these figures may further go up.”

 

The tax officials said that this is probably the highest recovery in a raid in the country.

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