Officials of the Income Tax department Tuesday conducted search operations in various offices belonging to SRM group having interests in education, news channel, transport and other sectors.
Confirming the raid, a senior official in the Income Tax department told IANS: "The raids are being held in 40 locations across the state."
According to him, the business group was being raided to unearth unaccounted money.
The raids started in the morning and were still on, he said.
The group owns the Puthiaya Thalaimurai channel and magazines.