The Central Bureau of Investigation on Tuesday arrested Mr P. Kishore, Managing Director of the Chennai-based Everonn Education Ltd in a tax evasion case of Rs 116 crore.
An additional commissioner of Income Tax and a middleman have also been arrested for accepting a bribe of Rs. 50 lakh, according to a CBI press release.
Mr Kishore had concealed taxable income of Rs 116 crore and requested an IT officer to conceal around Rs 60 crore of taxable income.
The three were called for questioning at the I-T office in Chennai on Tuesday morning and were later arrested, the release says.
Everonn is a Chennai-based VSAT education network company.