Chennai, Sep 20 : The Income Tax department is conducting searches on the premises of contractors of Tamil Nadu Generation and Distribution Company (Tangedco), on Wednesday.
The raids are being conducted on the premises of many suppliers and distributors to Tangedco.
A leading company which undertakes projects in thermal power plants and ports is also being searched.
Sources in the IT department told IANS that the raids are being conducted following information regarding malpractices in the books of accounts and in certain contracts with the state PSU, Tangedco.
Further details are awaited.
/IANS