The Income Tax (I-T) department in Coimbatore that raided a financial broker-cum-business consultant in Dharapuram in Tirupur district has seized US treasury bonds worth about Rs 27,500 crore from him.
The treasury bonds have been sent to New Delhi to ascertain its authenticity although no police complaint has been filed against him as yet.
I-T department raided T M Ramalingam on December 31 has also seized Rs 1.5 crore in fixed deposit receipts from banks in Tirupur district among other financial documents.
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