Coimbatore, Mar 14 (PTI) Income Tax department officials today carried out raids in four branches of a Kerala-based finance company involved in gold loan business and a gold dealer here.

The raids were conducted based on information that the dealer had transacted huge money reportedly through the Kottayam-headquartered finance firm having branches across the city during the demonetisation period, police said.

A seven-member team of I-T officials raided the office and house of the owner of the gold dealing company.

They reportedly found a large number of transactions had taken place through his account during the period when the high value currency notes were scrapped in 2016 November, they said.

This is published unedited from the PTI feed.