I-T raids at V V Minerals

Income Tax sleuths on Thursday swooped down on more than 100 premises belonging to V V Minerals and its owner V Vaikundarajan across Tamil Nadu. The company is one of the largest firms in India that is involved in export of garnet and other rare minerals found in beach sands.

The I-T raids have political undertones since Vaikundarajan is close to jailed AIADMK leader V K Sasikala and her nephew T T V Dhinakaran. It came on the day the Madras High Court delivered its verdict on the disqualification of 18 rebel AIADMK MLAs owing allegiance to Dhinakaran by Speaker P Dhanapal.

I-T sources said the raids were conducted in more than 100 premises in Tiruneveli, Thoothukudi, Chennai and other cities where the V V Minerals has assets. The group owns a Tamil news television channel and has interests in several other areas like packaged drinking water and refined sugar. Details of seizure were not known.