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

Jaya TV MD says he doesn’t see any motives behind the I-T raids at his home channel’s office

Jaya TV MD says he doesn’t see any motives behind the I-T raids at his home channel’s office

Income Tax officials have found over Rs 1400 crore in undeclared income during its raids spread over five days at the premises Jaya TV and family members of jailed AIADMK leader VK Sasikala kin and their business associates in Chennai.

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

The search operations have been concluded in many places and in other places it is going on, tax officials said.

People who know Jayaraman or have watched him closely say he took over the management of Jaya TV a year ago - after the death of chief minister J Jayalalithaa and around the time of the conviction of her aide Sasikala.

Raids were temporarily called off on Sunday but resumed on Monday.

A senior income tax official reportedly said after the five-day search that the estimate that has been given might increase manifold.

The Income Tax department has, however, denied any political links and claimed the raids to be a part of the "clean money drive".

"No one was questioned today".

Jazz cinemas is owned and operated by Vivek and other members of the family. "The AIADMK's Karnataka unit leader Pugalendhi sought time to appear before us in response to our summons", the official told The Hindu.

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 official said once it is ascertained that the proceeds are not accounted for then the bank accounts will be looked into. "Definitely, in the next two-three days, we'll submit it to the department".

During the raids, property-related documents were seized from the homes of Sasikala's nephew Vivek Jayaraman, MD of Jaya TV, which was suspected to have created shell companies, making dubious investments.

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 I-T Department will now start the process of summoning the persons concerned to get their statements on the assets seized or detected.

Many shell companies have also been identified by the I-T officials.

Several documents pertaining to benami transactions in the names of several household staff have been seized by tax officials.