Income Tax department carries out raids on SRM group of companies
June, 19th 2013
Income tax sleuths have launched raids and inspections at offices and institutions of SRM group of companies in Chennai and other cities in the state on Tuesday.
Sources in the income tax department said that simultaneous raids were on at 45 locations including the offices of 'Puthiya Thalaimurai' television news channel, 'Puthiya Thalaimurai' magazine, educational institutions and other facilities owned by the group in the state. The raids may last the whole day.
SRM group of companies owned by T R Pachamuthu has interests in several fields including education and media. The group ventured into media business by launching 'Puthiya Thalaimurai' television news channel in 2010.
The group also publishes a political and current affairs magazine in Tamil called 'Puthiya Thalaimurai' and is planning a new English news channel.
T R Pachamuthu has also floated a political party IJK and contested in the last general assembly elections in 2011.