CHENNAI: EDIBLE oil producer Kaleesuwari Refinery Private Limited allegedly evaded taxes of `90 crore for the last three to four years, said sources in the income-tax department on Monday.
A top income tax official said Kaleesuwari Refinery admitted evading taxes, after the company came under intense scrutiny including raids at more than 54 premises across the country last week. The official said that penalty for non-payment of taxes would be looked into later once the taxes were paid.
Kaleesuwari Refinery had forayed into exports last decade with an overseas group office in Singapore. Export markets covered were Oman, Qatar, Kuwait, Dubai, Sri Lanka, Singapore, Malaysia, Seychelles and the US with plans for expansion into newer areas. The company group turnover was USD 525 millions including trading of which branded sales was over USD 357 millions.
Of the 54 premises searched across the country, 36 were in Chennai, including Pallikaranai, Washermenpet, Vengaivasal and the residence of the group’s owner G Munuswamy in Mylapore.