The Income Tax officials in Chennai have recovered Rs 90 crore in cash, which included Rs 10 crore in new notes of Rs 2,000 and 100 kg of gold from few businessmen including Shekar Reddy
The Income Tax officials in Chennai have recovered Rs 90 crore in cash, which included Rs 10 crore in new notes of Rs 2,000 and 100 kg of gold from few businessmen including Shekar Reddy, who is reportedly connected with AIADMK and a top IAS officer in Tamil Nadu. The gold and cash were seized in a couple of raids. An official was quoted as saying by ‘The Indian Express’ that the total amount of gold seized is is likely to be worth over Rs 28 crore in the raids were initially conducted at seven locations. The raids have also been extended to a dozen other places, including offices of real-estate consultancies, jewellers, contractors and hotels in Chennai city.
Several teams, which consist of nearly 20-25 officials each, launched raids in Teynampet , T Nagar, and Anna Nagar yesterday morning.The raids, especially on Reddy, have raised questions in political circles of the state, with a senior AIADMK leaderd telling the paper that the businessman was a member of the party. He also described the raids as further shock for the AIADMK leadership after the death Monday of J Jayalalithaa.
As per the AIADMK leader, who wished not to be named, Reddy is also a member of the Tirumala Tirupati Devasthanams (TTD) board . Reddy had started his business career as a civil contractor and was also involved in the sand-quarry business. He had bagged some contracts from Southern Railways, but was denied a seat from Vellore in the last general elections by Amma.
Nearly two year back, Reddy was seen with current Chief Minister O Panneerselvam, when the later visited Tirupati for thanksgiving following the release of Jayalalithaa from a Bengaluru prison in a case relating to disproportionate assets.