SRM group comes under I-T scanner

Jun 19, 2013

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Chennai: Income-tax investigators on Tuesday raided the premises belonging to SRM group, including the office of Puthiya Thalaimurai television channel, and medical and engineering college premises.

“The raids were carried out on suspicion that the group was evading largescale income-tax remittance,” an officer, member of raid squad, told DC.

The SRM group is into diverse fields like medical and engineering education, software technology, hospitality, media and entertainment, transport, engineering construction, power and energy, publications and also runs an university.

The I-T searches began early Tuesday morning with more than two dozen teams knocking on the doors of various premises of SRM, including the houses of group chairman T.R. Pachamuthu in Valasaravakkam and his family members.

The searches were mainly conducted to detect possible unaccounted cash and details of investment. “Over 250 staff split into nearly 30 teams and conducted the search operations on the premises belonging to the SRM group in the city and parts of the state. Sources said the raids yielded nothing.

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