Raids were held at the residences and offices of C Chandrasekhar, MNM party treasurer.

Cash seizure
news 2021 Tamil Nadu Assembly Election Friday, March 19, 2021 - 17:08

The Income Tax Department seized unaccounted cash of Rs 11.50 crore and detected Rs 80 crore unaccounted income during searches conducted on March 17 on the premises of a business group engaged in yarn trading and supply of PPE kits, bags and baby care kits to various state governments. 

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

"The unaccounted income so generated is utilised for making investments in land and expansion of business" the statement said adding, "The search has resulted in seizure of unaccounted cash of Rs 11.50 crore and total unaccounted income detected so far is Rs 80 crore."

Though the IT department statement has not named anyone, it is understood that these searches were held at the residences and offices of C Chandrasekhar, MNM party treasurer. Chandrasekhar is the Chairman of Anita Texcot Company and also a director in Rajkamal Frontiers company, which he owns along with Kamal Haasan.

In another case five premises belonging to five entities were raided. “The five entities belonging to those who in addition to their regular business, are also acting as cash handlers The action resulted in a cash seizure of Rs 5.32 crore,” the statement said. These raids were on various people associated with the AIADMK and DMK.

Polls to the 234-seat Tamil Nadu assembly will be held in a single phase on April 6. "Seizure of large unaccounted cash will reduce the possibility of its utilisation for electoral purposes and will aid the objective of free and fair poll in the state of Tamil Nadu," the I-T Department said.

We will answer act if proven guilty: Kamal Haasan

To the question on raids at the residence of Chandrasekar, Kamal Haasan said, “Our party treasurer is an individual too. I think the seizures are from members of all parties except the Union ruling party. I am a good example of income tax filing citizen so if IT Department finds that there is unaccounted cash from him then they can take action.”

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