Income Tax officials on Tuesday raided a co-operative bank and the residence of its president in the city. The raids were conducted in the office of Vasavi Credit Cooperative Society in Malleshwaram, reports New Indian Express.
Residence of R P Ravi Shanker, president of the Society was also raided by the officials.
According to sources, the raid started simultaneously at both the Society and Shanker’s residence in the morning.
Though the officials are yet to divulge the extent of amount recovered or irregularities in the bank, they confirmed that the raids have taken place.
