Income Tax department raids sand-mining baron Shekar Reddy’s associate in Tamil Nadu

The searches are going on, they said declining to give any further detail.

 

Chennai, Dec 24: Income Tax officials today conducted raids at Dindigul in Tamil Nadu in the house of sand-mining baron Shekar Reddy’s associate Ratnam, a quarry contractor who was arrested a couple of days ago on charge of exchanging unaccounted old currency notes.
A team of I-T officials from Perambalur, about 150 km from here, were conducting searches at the house of Ratnam from around 6 am, official sources said.
The searches are going on, they said declining to give any further detail.
CBI had on December 22 arrested Ratnam and another quarry contractor Ramachandran, and Reddy’s auditor Premkumar following investigations in connection with recent Income Tax searches at his residence and office in Chennai that resulted in seizure of 127 kg of gold and over Rs 170 crore in cash post-demonetisation.
Reddy, along with his associate Srinivasulu, was arrested by CBI on December 21.
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