IT department sieves one of the top TN educational trusts!

On Tuesday, the Income Tax Department has camped its drones on the properties owned by the Velammal Educational Trust in Tamil Nadu and the extensive search was conducted in over fifty locations across the state.

The reports say that these fifty locations mainly in Madurai and Chennai have been sieved by the Income Tax authorities on Tuesday and the search, that was begun on Tuesday morning is currently underway, had been conducted after the department had received a tip-off about the allegations of the tax evasions.

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Velammal Global School, one of the schools owned by Velammal educational trust - File photo

 

Velammal Educational Trust is the second educational trust which comes under the scanner of the Income Tax followed by Jeppiaar educational trust. In December 2019, the IT had rolled out the raids in about dozens of properties that belong to Jeppiaar trust in Chennai on the alleged tax evasions. Jeppiaar group is well known around the state educational corridors as it has been operating a handful of colleges in Chennai and its outskirts.

Likewise, Velammal Educational trust currently manages multiple schools and colleges across the state including Chennai, Karur, Madurai, Sivaganga, and Theni. The group was founded in 1986 by Muthuramalingam and at the initial level, it has one school functioning in Chennai and now it owns more than 50 educational institutions across the state which is larger than that of Jeppiaar educational trust.

 

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