CHENNAI/VILLUPURAM: The Income Tax department conducted searches at 40 locations connected to MGM Group in Chennai, Tirunelveli and Karnataka for suspected tax evasion. MGM Group has investments in logistics, distilleries, housing, infrastructure, port handling, movie production, hotels and resorts, and theme park.
The searches by I-T department come in the wake of the Enforcement Directorate attaching assets worth Rs 216 crore connected to MGM Group's Chennai-based company Southern Agrifurane Industries Pvt Ltd (SAIPL) and MGM Anand in April this year. Meanwhile, a team of DVAC officials conducted a search at a distillery belonging to MGM group in Villupuram.
Assets attached
The searches by I-T department come in the wake of the Enforcement Directorate attaching assets connected to MGM Group’s Southern Agrifurane Industries Pvt Ltd