Income Tax officials raid Indev group of companies

Chennai:
Income tax officials raided the offices of INDEV group of companies across the country.
Income tax sources said that 15 permises of INDEV were raided in Chennai and 30 other offices across the country.
The searches, which were conducted by 45 teams to verify the doubts over tax evasion by the group, began around 8 am and is still continuing, sources said.
 The searches are being carried out in the wake of similar operations being conducted against Meenakshi group of institutions, Namakkal schools and SRM Group of companies during June besides Lion Dates Impex Pvt Ltd, Saravana Bhavan chain of hotels and Adyar Ananda Bhavan last month.
The raid also comes in the wake of INDEV Logistics  Pvt Ltd setting up its first Free Trade Warehousing Zone facility  at  J Matadee Free Trade Zone – SEZ , Mannur Village, Sriperumputhur Taluk, near Chennai. The firm is owned by Xavier Britto, Chairman of Indev Group. Indev currently employs more than 2500 staff across its facilities.