Enormous Wealth Accumulated By Sasikala Aides, Likely To Be Confiscated Under Benami Act, Says Local Media

Assets belonging to jailed AIADMK leader V K Sasikala and her close aides are likely to be confiscated under the Benami Act, with Prime Minister Narendra Modi’s pledge to crack down on benami acquisition of property strengthening the possibility of such a move by the Central government.

As raids continued for the fifth day on the properties belonging to Sasikala, her family members and close aides, Tamil newspaper Dinamalar reported that the income tax department has uncovered documents pertaining to assets worth hundreds of crores and illegal financial dealings, which are suspected to be benami transactions.

Quoting IT officials, the Dinamalar report said the objective of the raids was not money or jewellery, but to unearth benami assets and fraud companies.

Moving swiftly, the income tax department, which is planning to block bank accounts as well, has issued several summons based on the incriminating documents. Three key Sasikala aides, are among those who have been issued summons, local media reports said.

Searches were carried out across Chennai, Coimbatore and Puducherry in 215 places, while incriminating documents were seized from about 150 other locations over the past three days.

As part of the Modi government’s crackdown on black money, recently licences of 2.17 lakh fictitious companies were cancelled, among which four belonged to Sasikala aides.