CHENNAI: A massive “search operation” has been initiated by the Income Tax department at various offices of Chennai-based consumer goods major CavinKare.
Sources in the IT department told ET that over 170 income tax officials have spread out across 16 premises associated mainly with CavinKare’s milk businesses in Tamil Nadu.
Officials are also searching the house of Chairman and Managing Director C K Ranganathan, the IT department source said.
“The raids had begun from 8.30 am onwards. Officials are looking for some documents relating to Cavin Kare’s milk businesses and the operation could continue through the day,” the source added.
Officials at CavinKare refused to comment on the development.
Read full article: Economic Times