Pandalam-based Sreevalsam group owned by former top cop MKR Pillai is under the scanner of the I-T department for suspicious financial activity as per a report by Disney Tom in The Times of India.
In this connection, raids have been carried out in several locations across the country including Kerala, Karnataka, Delhi and Nagaland and unaccounted wealth of Rs 400 cr has been seized.
In Kerala, the raids were conducted on offices of Sreevalsam Group at Pandalam, Mavelikara, Thiruvananthapuram and Aranmula while residences of Pillai and his relatives at Pandalam, Kottarakara and Mavelikara were also raided, the report says.
A top IT official told IANS that the raids started on Thursday at 30 centres across the country.
"Some places where the raids took place have been sealed. Once the probe is completed we will file an enquiry report," said the top official who did not wish to be identified.
According to a Manorama report, a Nagaland police truck was found in the compound of one of Pillai's properties in Pandalam and it is suspected that this truck was used for smuggling.
Pillai, who hails from Pandalam in central Travancore, started his career as a constable in Nagaland police in the 70s and retired as Additional SP. Since then he has been working as a consultant with the same employer.
A President's Police Medal winner, Nair during his stint in Nagaland had very close links with prominent people.
He came under the IT scanner post-demonetisation. In a calculated and pre-determined move, the IT sleuths swooped down on Thursday on 30 centres in the country in four states, where he has interests.
Sreevalsam Group is into varied businesses including jewellery, gold loan, textiles, resorts and schools in Kerala and other states. According to I-T sleuths, the group also has businesses in Nagaland which were started in the name of benami owners.
According to speculation, Pillai's assets linked to the Sreevalsam group are in excess of Rs 1,000 crore.
(With IANS inputs)