Sleuths of the Income Tax investigation wing on Friday carried out simultaneous searches on some 60 premises of the three Muthoot groups — Muthoot Finance, Muthoot Fincorp operated by the Muthoot Pappachan Group and Mini Muthoot — across the country on the suspicion that they all possessed income that was unaccounted for.Top sources told The Hindu that the searches that began early in the day, would continue through Saturday and covered the corporate offices and major premises owned by these firms in Delhi, Coimbatore, Chennai, Bengaluru and Kerala.“Besides these, searches were also conducted on premises owned by key personnel of these groups,” said a source.“There doesn’t seem to be any transparency in the auction of forfeited gold conducted by these groups. Surprisingly, in some cases, persons who are to supervise the process have appeared to be absolutely clueless whether auction has really taken place,” he maintained.Undeclared assetsThe IT investigation wing is also examining whether the groups have acquired undeclared assets within the country and overseas.A spokesperson for Muthoot Pappachan Group said that there had been IT inspections at some of their offices since Friday morning.“Our management and staff are fully cooperating with the ongoing inspection”, the spokesperson said.