March 07, 2021 The operation was carried out at 27 premises of the two groups The Income Tax Department has carried out searches against two Chennai-based groups, one of which is a leading bullion trader in Tamil Nadu and the other, one of the biggest jewellery retailers in South India. The search operation was carried out on Thursday at 27 premises located in Chennai, Mumbai, Coimbatore, Madurai, Tiruchi, Thrissur, Nellore, Jaipur and Indore, an official release said. According to the release, the searches at the premises of the bullion trader revealed that there were unaccounted cash sales; bogus cash credits from its branches; cash credits in dummy accounts in the guise of advance for purchases; unexplained cash deposits during the demonetisation period; bogus outstanding sundry creditors and huge unexplained stock variations.