Rs 7 crore "unaccounted" cash has been recovered from "a key person", said an official.
The Income-Tax Department on Wednesday conducted raids at multiple locations of Chennai-based Chettinad group in connection with a tax evasion probe, officials said.
The department on its official Twitter handle said the action was being undertaken against a "prominent business group of Chennai having varied business activities."
"About 60 premises are being covered in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra," an official said as he identified it as the Chettinad group.
They said over Rs 7 crore "unaccounted" cash has been recovered from "a key person" till now and the raids were still on.
The about 100-year-old Chettinad group has interests in several businesses like construction, cement, power and others.