VK Sasikala's assets worth Rs. 2000 Crores frozen by IT department!
Galatta | Oct 07, 2020, 08:28 pm
Former AIADMK General Secretary VK Sasikala Natarajan, who was also the late Chief Minister J Jayalalithaa's closest aide, is currently in prison, serving her term in relation to a corruption case. However, there was some good news for her when it was announced that she would be released early from prison, for her good conduct. Things seem to have again turned murky for Sasikala as news of the Income Tax department freezing her assets worth Rs. 2000 Crores. The frozen assets include two bungalows in Kodanad and Siruthavur, which alone are worth Rs. 300 Crores. Reports state that both these properties have been registered under Sasikala's name! We hear the Income Tax department as attached around 65 properties belonging to Sasikala and her associates both in Chennai and in other places of Tamil Nadu.
One of the properties frozen by the Benami Prohibition Wing of the IT department, include a residence which is under construction in Poes Garden. It is said that this is where Sasikala had been planning to reside in, after her release from prison. Earlier, in 2017, the IT department had raided about 187 properties of Sasikala and her associates and allegedly unearthed proof for tax evasion to the tune of Rs. 1,430 Crores! Currently, Sasikala and her relatives Ilavarasi and Sudhakaran are being kept prisoners at the Bengaluru Central Prison, where they are serving a four year term in a disproportionate assets case. A report had earlier mentioned that Sasikala might probably be released on January 27, 2021 if all provided conditions are met!
Some reports state that Sasikala had purchased her Poes Garden property, which is situated right across the road from Jayalalithaa's residence Veda Illam, through a shell corporation. We also hear that a notice has been served to Sasikala at the Parappana Agrahara Prison in Bengaluru, her Benami company and the various Sub Registrar Offices (SRO), under whose jurisdiction, the attached properties are located. The documents of these assets were said to have been recovered during the extensive raids in 2017! The provisional order for attaching all these properties had been issued under the Section 24(3) of the Prohibition of Benami Property Transactions Act, 1988! Stay tuned for updates...