17 July : Madurai – A total of 100 kilograms of gold biscuits have been recovered from the Income Tax department in Madurai, Tamilnadu. Besides, cash of Rs 163 crores has been seized. This is said to be the biggest asset till date given by the income tax department. This was done on a construction firm.
Gold biscuits weighing around 100 kg and Rs 163 crore in cash that is suspected to be unaccounted, seized by the Income Tax department from 20 locations of SPK company in Madurai, Aruppukkottai, Vellore and Chennai. Raids started y'day, still underway at few locations. #TamilNadu pic.twitter.com/LY5fgyS9TM
— ANI (@ANI) July 17, 2018
The Income Tax department conducted an offensive in 22 different locations of the Mundra’s SPK Company. The raid was conducted at the office of Aruppukottai, Vellore and Chennai office on Monday. The company’s highways contract is being taken from this company. So far, around 100 kg of gold and Rs 163 crores of cash (approximate) have been seized and the action is still on, said an official in the Income Tax department. This is the biggest confiscation of the entire country till date and the seizure has been kept safe in a big car, the official said. In the meantime, in the previous year, the cash was recovered from the receipt of the 110 crore rupees in the income tax department.