Rs.2.85 crore was seized from the office and residence of an AIADMK functionary in Chennai.
The company, located on the 200-foot radial road in Pallavaram, was found to have hidden the cash in a crusher machine.
CHENNAI: After a surprise raid conducted by the Income Tax Department at PLR Blue Metals, a private company owned by a prominent AIADMK functionary in Pallavaram, Chennai, last night, the sleuths seized unaccounted cash of Rs. 2.85 crore.
The company, located on the 200-foot radial road in Pallavaram, was found to have hidden the cash in a crusher machine. The owner of the company, Lingeswaran, resides in Old Pallavaram.
Following the raid, Income Tax Department officials searched Lingeswaran's residence from 12:30 a.m. to 3:30 a.m. and seized Rs. 1.85 crore in cash. A total of Rs. 2.85 crore in unaccounted cash was seized from the company and Lingeswaran's residence.
The Income Tax Department officials have registered a case and are conducting further investigations. It is significant to note that the seizure of such a large amount of unaccounted cash from a prominent ADMK leader's company and residence happened on the eve of the parliamentary elections scheduled for Friday.
