At Least 100 Bank Accounts Of Shell Companies Linked To Sasikala’s Kin Frozen By I-T Department

The Income-Tax Department has frozen at least 100 bank accounts of shell companies allegedly linked to Jaya TV Managing Director Vivek Jayaraman, a nephew of convicted leader V K Sasikala, Times of India has reported.

"We froze 100 bank accounts after we found that they belong 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," a senior I-T department official quoted by the daily as saying. "We recovered many documents relating to these shell companies from Vivek's house. Some documents were seized from the houses of his sister Krishna Priya and an auditor. We are also examining documents of some properties held by benamis," the official added.

This development comes three days after the department discovered diamond jewellery and Swiss watches inside cupboards of unoccupied hostel rooms in a women's college in Tiruvarur district.

A senior official said that around Rs 6 crore in cash, 8.5 kg gold worth Rs 2.4 crore and documents relating to investments worth over Rs 1,200 crore was found and the owners could not provide any source of income.

The 1,800 strong contingent, which has been carrying out ‘Operation Clean Money’, has seized several incriminating documents over the past three days and a detailed report of the same is being sent to the Central Board of Direct Taxes.

With inputs from PTI