Rs 14.5 cr seized during IT raids at construction firm

Rs 14.5 cr seized during IT raids at construction firm

Chennai, The Income-Tax department officials have seized Rs 14.5 crore cash after three days of raids at the PSK Engineering Construction Company in Namakkal. The raids, which began on Friday morning, ended on Monday morning. The company has been involved in executing several projects for the Tamilnadu government. The raids included company owner P S K Periyasamy's residence and offices and those of his relatives. IT sources said apart from cash, several incriminating documents were also seized during the raids that lasted close to 65 hours. The officials also unearthed Rs.112 crore of unaccounted income during the searches.


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