The Income Tax sleuths on Monday raided the offices of the KLM group in Ernakulam and the residence of Shibu Thekkumpuram, chairman of the group and district president of the Kerala Congress (M) group.
Official sources said the raids were held at the KLM head office at Kothamangalam, corporate office of the group at Kaloor and branch offices at Piravom, Perumbavur, Muvattupuzha, Angamaly and North Paravoor. Alongside, team of I-T officials inspected his house at Kozhippilly near Kothamangalam, another team searched Tiana Gold and Diamonds run by the group at Kothamangalam.
Searches were also carried out at a finance company run by one of the directors of the group at Kothamangalam.
Sources said the raids followed a tip off on the alleged tax evasion by the group.
Documents seized
During the raids, which lasted till late evening, the sleuths seized several documents shedding light to the financial dealing of the group.
The KLM Group’s business involves jewellery, business loan, money transfer, personal loan, foreign exchange and chits among others.
Searches at firm run by one of the directors
Raids followed tip-off on alleged tax evasion
