Namakkal: IT sleuths seize unaccounted cash worth ₹14.54 cr

With LS polls round the corner in the state, the IT department has seized unaccounted cash worth ₹14.54 crore. The cash was seized from the premises of PSK Engineering Construction and Company in Namakkal district. Raids were carried out on Friday at locations linked to the firm.

Namakkal (Tamil Nadu): Income Tax department officials have seized unaccounted cash worth Rs 14.54 crore from the premises of PSK Engineering Construction and Company here on Saturday.

Out of the amount seized, a major portion (Rs 13.80 crore) was seized from four premises belonging to the company.

Apart from cash, several incriminating documents and accounts with details of the generation of unaccounted money by inflation of expenditure, payments made to influential persons and unaccounted capital introduced were also seized.

Raids were carried out on Friday at locations linked to the Namakkal-based construction firm.

"Officials from the IT department had received information about the presence of unaccounted cash," sources said.

The raids come less than a week before 39 Lok Sabha seats at stake in the state are set to go to polls.