Unclaimed cash worth Rs 11.5 crore seized in raid on MNM treasurer’s property, IT department claims

The Income Tax Department seized Rs 11.50 crore of unaccounted cash and traced undisclosed income of Rs 80 crore during searches made on March 17 at the premises of a trade group supplying yarn trading and PPE kits, bags and baby care kits. . .

“The I-T department carried out searches and seizure operations on 17 March to a trade group engaged in the supply of yarn trading and PPE kits, bags and baby care kits to various state governments. Searches were conducted at eight campuses in Tirupur, Dharapuram and Chennai. Unaccounted cash worth Rs 11.50 crore has been seized. “

“Unaccounted income generated is used to invest in land and expand business” the statement said, adding, “The search has resulted in unaccounted cash seizure of Rs. 11.50 crore and so far Has a gross income of Rs 80 crore. “

Although no one has been named in the IT department’s statement, it is understood that the searches were conducted in the residences and offices of MNM party treasurer C Chandrasekhar. Chandrasekhar is the chairman of Anita Texkot Company and is also a director in Rajkamal Frontiers Company, which is also owned by Kamal Haasan.

In another case, raids were conducted on five premises belonging to five entities. “Apart from their regular business, the five entities which are also working as cash handlers. The action has resulted in forfeiture of cash of Rs. 5.32 crore,” the statement said. These raids were on various people associated with AIADMK and DMK.

Elections to the Tamil Nadu Legislative Assembly with 234 seats will be held in a single phase on 6 April. “The seizure of unaccounted cash will reduce the possibility of its use for electoral purposes and will aid the purpose of free and fair elections in the state.” Tamil Nadu, ”the IT department said.

On the question of raiding Chandrashekhar’s residence, Kamal Haasan said, “The treasurer of our party is also a person. I think the seizures belong to members of all parties except the Union ruling party. I am a good example of a citizen filing income tax so that if the IT department comes to know that it has a lot of cash then they can take action. “