CSK sponsor under Income Tax scanner

Chennai:

Indian Premier League team Chennai Super Kings’ sponsor ADL Orbit Cables is under Income Tax scanner for evasion of taxes.

Income Tax sources said that raids are being conducted at Orbit Cables offices nationwide including Tamil Nadu, Karnataka, Andhra Pradesh, Delhi and Uttarakhand for tax evasion.

Sources revealed that at least 10 premises of Orbit Cables in Tamil Nadu, including Chennai, are under the scanner of Income Tax. A total of 350 Income tax sleuths are conducting the raids across India.

The company is the official power partner of Chennai Super Kings. It is owned by Amit Agarwal.

Income Tax sources told Express that the company is sponsoring Chennai Super Kings with Rs 5 crore. But when it comes to paying taxes, they are evading it.

The company officials could not be reached. The company manufactures cables and wires with its unit set up in Haridwar in Uttarakhand.

Sources said ADL Orbit Cables associated with Chennai Super Kings to increase the brand's market share in South as well other parts of the country and on a macro perspective to enhance the brand image.

It is believed 90 per cent of the company’s sales happen in Tamil Nadu alone.