Crackdown on shell firms: I-T Dept searches 33 premises linked to 3 groups

Search conducted to track deposits during demonetisation; no link with recent search operations on AIADMK leader V K Sasikala, say officials

The Income Tax officials has started search operations in 33 premises in cities including Chennai, Madurai and in other states, in connection with its investigations on shell companies and deposits during demonetisation.

The search was conducted in premises linked to real estate firm Marg Group, Patel Group and Milan Textiles Group, Madurai and Ganga Foundations.

A senior official from the department said that the search operations are in connection with shell companies and deposits during the time of demonetisation. These are independent groups and do not have any connection with the recently held massive search operations in premises related to AIADMK leader