Income Tax department on Friday said that it has seized Rs 106.52 crore cash and 127 kg Gold in the case of Sand mining Contractors at Chennai.Last two days, the Department has been raiding premises belongs to industrialist Shekhar Reddy and his associate Srinivasa Reddy.The Investigation Directorate of Income Tax Department at Chennai conducted searches on December 2016 in Eight premises (six residential & two offices). The group has sand mining licence for the entire state of Tamil Nadu.

Source - http://www.business-standard.com