New Delhi/Chennai | The Enforcement Directorate (ED) on Monday conducted searches at multiple premises linked to Chennai-based Chettinad Group as part of an investigation being conducted under the anti-money laundering law, official sources said.

They said premises in state capital Chennai, Trichy (Tiruchirappalli) and few other places are being raided.

The about 100-years-old business group has its interests in a variety of sectors like cement manufacturing, logistics, construction, among others.

The Income-tax department had searched the company in December, 2020 and claimed to have detected tax evasion of more than Rs 700 crore.

The Central Board of Direct Taxes (CBDT), the administrative authority for the I-T department, issued a statement in this regard and claimed to have seized "unaccounted" cash of Rs 23 crore during these searches