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BCCI chief N Srinivasan in CBI net for alleged tax evasion on imported cars

Source : AGENCIES
Last Updated: Fri, Mar 22, 2013 15:47 hrs
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Chennai: The Central Bureau of Investigation on Friday seized 11 cars belonging to BCCI chief N Srinivasan for evading paying tax on the imported cars, according to sources.

The CBI also raided the residences of the chancellor of a medical college, several other businessmen and the MGM Group of Companies. These raids were conducted as part of the Chennai car imports scam.   

The CBI seized seven cars from the Chancellor of Sri Ramchandra Medical college, five vehicles from GK Shetty Ramanna, two each from the MGM Group of companies and Raja Shankar, and one automobile from the owner of JRA Towers group.



According to the CBI, the Chennai car imports scam is one of the biggest of its kind in India. It is also believed that the scam involves officials of the Directorate of Revenue Intelligence and has caused a loss of nearly Rs 50 crore to the government exchequer.

The CBI also seized 33 cars after raids across the city and the state on Friday after raids were carried out at the residences of alleged mastermind of the racket, Alex Joseph and several DRI officials. Joseph, however, has evaded arrest.

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