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Last Updated : Feb 12, 2019 01:59 PM IST | Source: Moneycontrol.com

Tax officials dig deep, find gold & diamond stashed in graveyard

A total of 12.53 kg of gold, 626 carats of diamond, and Rs 25 crore in cash were retrieved over a nine-day-long search.

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Moneycontrol News

Bizarre as it may sound, Income Tax department officials had to dig up a grave to uncover illegal income hidden away in the form of cash, gold, and diamond.

The I-T sleuths were raiding the premises of realty firms GSquare, Lotus Group, and Saravana Stores Bramandamai when they received intel on an SUV carrying cash and valuables doing the rounds in Chennai.

They had information about Rs 433 crore unaccounted income in the three firms combined.

The officials tracked the vehicle down eventually and recovered important documents that could help indict the black money hoarders.

Apart from that, they also got information on several bags of valuables buried in buildings and some dumped inside buildings.

As per a report by Times of India, 74 locations owned by Saravana Stores owner Yogarathinam Pondurai and G Square and Lotus Group owner Ramajayan (Bala) – 72 in Chennai, 2 in Coimbatore -- were searched.

A total of 12.53 kg of gold, 626 carats of diamond, and Rs 25 crore in cash were retrieved over a nine-day-long search.

The raids revealed that payments were being made in real estate aggregation through these firms. The role of the realty companies allegedly was to amass plots of land for Saravana stores.

Additionally, the team learnt that the staffers of the realty firms were told to delete all records from the computers, including the CCTV footage, to avoid being detected.
First Published on Feb 12, 2019 01:59 pm
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