Published On: Sun, Nov 12th, 2017

At least 100 bank accounts of shell companies linked to Sasikala kin frozen

Chennai: Following three days of raids at various locations across three states, the Income Tax department has frozen at least 100 bank accounts of shell companies allegedly managed by Jaya TV MD Vivek Jayaraman, a nephew of convicted AIADMK leader VK Sasikala, said I-T sources on Saturday.

Searches had yielded Rs 6 crore in cash, 8.5 kg gold and documents relating to investments worth Rs 1,200 crore

The I-T searches commenced at 188 properties owned by Sasikala, her extended family members and associates in Tamil Nadu, Puducherry, Bengaluru and Hyderabad.

Sources said that the searches had yielded Rs 6 crore in cash, 8.5 kg gold and documents relating to investments worth Rs 1,200 crore of unaccounted money.

Apart from it, many valuables including cash, gold an valuable watches were recovered from unused hostel rooms of a women’s college owned by Sasikala’s brother V Dhivaharan at Mannargudi, sources said.

An I-T official said that 100 bank accounts were frozen after it was detected that they belonged to 20-odd shell companies. “Crores of rupees were deposited in them soon after demonetisation was announced last year. The accounts were being operated by Vivek Jayaraman,” said an I-T official.

Searches were still on at some places, including Kodanad estate owned by Sasikala, because some lockers there were yet to be opened, the source added.

 

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