TN-based educational group admits to having Rs 532 cr of undisclosed income

"The searches are temporarily concluded while further investigations are under progress"

One of the leading educational institution groups in Tamil Nadu has admitted to having Rs 532 crore of undisclosed income, the tax department said. The officials have seized approximately Rs 2 crore of unaccounted cash.

"The income tax department has mounted search on a group operating leading educational institutions having a large number of schools and colleges in Chennai and Madurai region. The search was conducted at the office of the Trust, residences of the trustees and key employees of the group. The charitable trusts are running a medical college and hospital, engineering colleges and schools across Tamil Nadu. Search and