One of the biggest suppliers of medicines to Central Government Health Scheme (CGHS) hospitals "surrendered" Rs 200 crore he allegedly held in black money after the Income Tax Department recently raided his premises, official sources said today.

They said the Delhi-based businessman's premises were searched by the I-T sleuths a few days back on suspicion of "huge" tax evasion by him and his business enterprises."The man, who is one of the largest suppliers of medicines to the CGHS, has surrendered Rs 200 crore as black money. Tax evasion investigations against him are still ongoing," a senior I-T officer said.

Sources claimed that the businessman, who could not be contacted by the PTI for comments, was also constructing a large mall in the national capital, apart from funding few other large business projects.They added that the tax department is in the process of opening his bank lockers and examining his financial documents to ascertain the exact amount of tax he evaded.The CGHS hospitals are run by the Ministry of Health and Family Welfare, and the official website says they provide "cheap medical care to central government employees, pensioners and all the four pillars of democratic set up in India namely Legislature, Judiciary, Executive and the Press."