IT raid against Sree Gokulam Chit Fund and Finance

The Income Tax Department carried out raids throughout the country at around 78 locations on Wednesday. Raids were carried out at offices belonging to Sree Gokulam Chit Fund and Finance Private Company owned by a Chennai based businessman.

Around 500 officials were part of the raids that were carried out at 37 locations in Chennai and five locations in Bengaluru. The raids started as early as 5:00 am Wednesday. It is learned that Sree Gokulam Chit Fund and Finance Private Company established in 1968, was then inaugurated by MG Ramachandran (MGR) showing it's close association with the AIADMK party.

It is also learnt that since there was a political turmoil in Chennai on Tuesday, the IT raids continued the next day which has become a 'norm' these days, said a source privy to developments.