Rs 1430 crore seized by IT department from Sasikala's properties

IT raids on Sasikala family Tax evasion on income of ₹1,430 crore detected by officials

The Income Tax department has unearthed over Rs 1,400 crore worth of unaccounted income during their five-day raids at 187 premises owned by AIADMK leader V K Sasikala, her family and her associates.

A major part of property related documents were seized from the properties of Sasikala's nephew and Jaya TV CEO Vivek Jayaraman, his sister Krishna Priya and their auditor.

It has been found out that Sasikala and family have evaded taxes amounting to Rs 1,000 crore, reported The Asian Age.

Besides this cash amounting to Rs 7.14 crore and jewellery valuing Rs 5 crore was also found.

I-T sources say Vivek was linked to almost 100 shell companies and documents related to his connection have been seized during the five-day long searches at his residence and office of Jaya TV.

The raids which the officials had dubbed as "Operation Clean Money" began on November 9, when officials entered the office of Tamil television channel Jaya TV in Chennai, after they received information that the channel has been evading taxes.

The searches were conducted in connection with unexplained routing of cash post-demonetisation through shell companies allegedly connected to Sasikala and her nephew T.T.V. Dinakaran, who heads one of the factions of the ruling AIADMK.

The department had summoned Karnataka's AIADMK leader V. Pugazhendi, whose premises were searched last week.

This followa five days of searches in multiple cities. As many as 15 bank lockers and diamond jewellery were kept under "prohibitory orders".

Jazz cinemas is owned and operated by Vivek and other members of the family. "We are questioning him over certain transactions and investments made by him and the companies", said a senior IT official.

Many shell companies have also been identified by the I-T officials. He said whoever earned through illegal means would have to pay the tax.

The official said the undisclosed income was in respect of the ten assessee groups, which includes Jaya TV and Midas Distilleries that are reportedly linked to Sasikala. A team, consisting of three members, are reportedly verifying the documents with regard to the Kodanadu Estate and also the 670-acre Green Teas estate in Curzon, said to be purchased by late chief minister Jayalalithaa and her aide VK Sasikala some five years ago.

"In the women's hostel of the college [belonging to Sasikala's brother Dhivaharan], we found six Rolex watches and are now referring to the watch models to get their estimated value".

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