The Income Tax department on Monday launched searches at the premises of a well-known Tamil Nadu-based real estate firm, G Square?official sources said.?

Searches were being held in different locations in Tamil Nadu, including in Chennai, sources said.

G Square has been at the centre?of the storm over allegations that it has close ties with the ruling party and?family members of state Chief Minister and DMK Supremo M K Stalin.

The raids come a week after Bharatiya Janata Party (BJP) Tamil Nadu state president K Annamalai released ‘DMK Files' in which he provided details of vast properties owned by DMK?ministers, leaders and others related to ruling party leaders.

He alleged that the revenue of the realtor company G Square observed a manifold?increase?since 2019, because of their links with Tamil Nadu’s ruling party.

According to a report by The News Minute,?the company had released a statement saying that they were neither owned nor controlled by the DMK.

Meanwhile, the ruling DMK in Tamil Nadu has slapped a legal notice on state BJP chief K Annamalai over his graft allegations against the party, its President and Chief Minister M K Stalin, demanding an apology and damages to the tune of Rs 500 crore.?

The 10-page notice issued on behalf of DMK Organisation Secretary R S Bharathi said Annamalai's allegations named 'DMK Files' and targeted at Stalin and other party leaders were "false, baseless, defamatory, imaginary and scandalous."

Releasing a nearly 15-minute video clip "DMK Files (Part-I)" showcasing what he claimed were assets of ruling party personalities and its valuation, Annamalai said three other parts of the 'expose' would also be released later which would include details about other political parties as well.

(With inputs from PTI)