Tax department conducts searches at Chettinad Group

Chennai, June 10 (IANS) A 450-member team of the Income Tax Department is conducting searches at offices of the Chettinad Group of companies in Tamil Nadu, Andhra Pradesh and Maharashtra, officials said on Wednesday.

The searches are on at 40 locations in the three states. “The reason for the raid is suspected evasion of taxes,” a department official told IANS.

The searches come a day after M.A.M. Ramaswamy, the former chairman and director of the company, alleged that Chettinad Cement owes the government a huge sum in sales tax dues.

“The government has told the company to pay up a minimum of around Rs.252 crore before negotiations can take place,” Ramaswamy said at a press conference called to disown his adopted son M.A.M.R. Muthiah, the managing director of the group.

Asked for clarifications, Muthiah had told IANS: “The company does not owe any sales tax dues to the government. The company pays its dues every month.”

“Ramaswamy is an outsider to the company. He is not associated with the company in any capacity now. One should not take an outsider’s charges seriously and ask for clarifications,” he said.

Ramaswamy was ousted as a director of Chettinad Cements last year.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here