|  |  |  |  | 

Business Exclusive Headlines News

SRM raided by Income tax

Chennai, June 18 ():SRM education group offices across Chennai and Trichy were raided by officials of the Income Tax Department.

The group’s several businesses were raided. Raids began early today morning. The SRM Group has its registered office in T Nagar in the city and a campus in Vadapalani, Valsaravakkam and Ramapuram.

It recently ventured into the TV business with the news channel Puthiya Thalamurai headed by veteran journalist Malan. The group has a general magazine by the same name. It entered filmdom by distributing Ethir Neechal produced by actor Dhanush. It has now acquired three more films for distribution. Thillu Mullu, a romcom acquired by it was released last Friday.

Parivendhar, the Chairman of SRM group house in Ashok Nagar, a suburb in Chennai , was also raided by the IT officials today morning. SRM flagship engineering college and deemed university at Katangalathur near Chennai were also raided.

The timing of the raid coincides with the admission going on for many professional courses. Cash is collected from those seeking admissions in courses that are in demand. This is not accounted for by the institution. The group came into focus after its high profile acquisitions in Tamil filmdom.

Ethir Neechal was a runaway hit. It celebrated the success in Geneva and released audio of ‘Thillu Mullu’, ‘Sutta Kathai’ and ‘Nallanum Nandhiniyum’ on the occasion. Three days back it released Thillu Mullu all over the State.

The acquisition of Thalaivaa starring Vijay and directed by A L Vijay from well-known financier Chandra Prakash Jain reportedly for an astronomical price was also a reason for IT men to swoop down on SRM. The film has Amala Paul teaming up with Vijay for first time.

SRM Parivendhar had floated a political party that contested the Assembly polls in the State. It garnered quite a number of votes and was promienent by advertising in front pages of leading dailies in Tamil Nadu.