COIMBATORE: Amidst the election schedule, the Income Tax department in the biggest cash haul has seized around Rs 32 crores of unaccounted cash from a hatchery at Pollachi in the Coimbatore district.
Sources said that a team of officials from the Income Tax department searched a poultry farm based on a tip-off and found around Rs 32 crores of unaccounted cash from the hatchery. They took the cash in three boxes and called for a further investigation.
According to the sources, the IT officials begun a search at the head office of the firm situated in Venkatesa Colony in Pollachi on Monday evening. The raids that continued for 15 hours Tuesday, led to the seizure of around Rs 32 crores.
After the raids, bank staffers were bought to the spot and the amount seized was counted, IT sources said.
It is speculated whether the money in huge quantity is kept for distribution to the voters. Along with the IT, the election officials also initiated a probe.
The firm was run by siblings Arul Murugan and Saravana Murugan from Pollachi and is said to have several branches across the state.
It may be noted that the firm produces fooder for the hatcheries and distributes it across the country.
