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'IT raids reveal Rs 1430 cr tax evasion by Sasikala kin, associates'

14 November 2017

Authorities also say Rs. 7 crore in cash, Rs. 5 crore worth of gold and a vast collection of diamond jewellery the value of which has not yet been assessed have been recovered, reported NDTV.

"We have found tax evasion of Rs 1,430 crore, as of now".

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. This figure is likely to go up as we have also seized incriminating documents. Vivek and certain other family members came only to sign the papers.

Talking to the press for the first time since Income Tax Department sleuths conducted searches in his residence and offices for the past five days, Jaya TV managing director Vivek Jayaraman said on Tuesday that he had given his replies to queries and indicated that he would cooperate with them in the future too.

"As far as I know, they (searches) don't seem to be so (politically motivated)", he told reporters near his Mahalingapuram residence here. After he returned from overseas, he was asked by Jayalalithaa to take over the administration of her Poes Garden residence and gradually he began getting into businesses owned by the Mannargudi Family.

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The official said that tax demand would be raised after analysing the documents and obtaining clarifications. ".you have to pay income tax".

To a question on the nature of undisclosed income, he said this relates to unexplained cash and unexplained cash introduced for acquiring several businesses. The issue of shell companies was a separate matter, he said, but did not elaborate. 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.

Jayalalithaa used to stay and look after official duties twice a year in the Kodanadu Bungalow, documents of which were allegedly in the custody of Dhinakaran or some of his relatives after her death. The official added that more people would be summoned as and when required to bring the raids to a logical conclusion.

Valuables have also been reportedly found out from the all-girls Sengamala Thayaar Educational Trust Women's College at Sundarakottai near Mannargudi town that is run by Sasikala's brother, V.K. Dhivakaran.

'IT raids reveal Rs 1430 cr tax evasion by Sasikala kin, associates'