Ramalingam at Upputhurai Palayam village appliec to the petroleum and chemicals ministries, seeking sanction to set up a Rs. 1,000 crore crude oil refinery in Ramanathapuram district of Tamil Nadu.
Scenting this the I-T plunged in to action and seized some documents, which appeared to be US Treasury Bonds with a face value Rs. 28,000 crore, were seized from Ramalingam’s possession and further investigation was on.

Source : ndtv.com
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