Sleuths from the Income Tax Department conducted raids at Yashoda Hospitals as well as the properties owned by the group in different parts of the city on Tuesday.
An I-T spokesperson said that the firm is a leading civil contractor for government works, specialising in erecting seawave breaks along coastlines.
The recent raids at the offices of the group resulted in the seizure of unaccounted cash worth Rs 23 crore and foreign assets to the extent of Rs 110 crore in the form of Fixed Deposits.
As the information about Krishnan’s hospitalisation spread, hundreds of DMK cadre gathered in front of the hospital.
Krishnan is said to have been interrogated on his alleged connection with the institution and his investments.
The searches follow a tip-off that fees collected from students were not fully accounted for in the regular books of accounts.
While the statement did not identify those searched, official sources said those raided include Hilal Ahmed, Ghulam Rasool Magray and Ishfaque Dar.
Raghvendra Singh Tomar, who owns one of the raided companies, is a close relative of an IPS officer presently posted as district police chief in the state.
Some of the properties being raided belong to Raghvendra Singh Tomar who played a key role in the fall of the Kamal Nath-led Congress government in the central Indian state in March 2020.
In 2018-19, the tax department conducted 983 searches and seized assets valued at Rs 1,584.11 crore.
An income tax raid was held at the actor's residences in Saligramam and Paniyur last month wherein he was bought to Chennai from the sets of Master in Neyveli.
Seize records pertaining to college management, including admission procedure, fee structure and taxation.
The BJP leader also attributed the AAP's landslide victory in Delhi assembly elections to the freebies announced by the party.
The five-day continuous raid by Income Tax officials on the residence of P Srinivas, who worked as the personal assistant to then chief minister N Chandrababu Naidu, came to an end on Monday.
Residences and offices of ‘Bigil’ movie producer, distributor and financier Anbu Chezhiyan and actor Vijay were searched for alleged tax evasion on Wednesday.