I-T sleuths search firms linked to Sasikala in Chennai, Coimbatore

It may be noted that the Income Tax sleuths had conducted a marathon raids and searches in 187 places, linked to Mannargudi clan, in November second week.

The latest searches come three days after Sasikala’s nephew TTV Dinakaran won the RK Nagar by-election as independent candidate.

The taxmen searched places including Midas Distilleries at Padappai near Chennai, Sai Group of Companies in Padappai, the Adyar residence of Karthikeyan, who is son-in-law of Sasikala’s sister-in-law Ilavarasi, now jailed in Bengaluru, a college in Coimbatore and its treasurer’s house.

Income tax officials claimed that they have received fresh leads about unaccounted investments in shell companies by members of Sasikala’s family. The Wednesday’s raids were more focussed on Midas distilleries and its director Karthikeyan.

During the November raids and searches, the income tax department had unearthed nearly Rs 1,430 crore of unaccounted investment by the family.

Tuesday’s exercise also involves lifting of prohibitory orders under which documents, materials or articles like jewellery were placed securely in the premises that were raided. The relaxation covers premises where searches were conducted including at locations connected to Midas Distilleries, an Income Tax official said.

The exercise marks procedural formalities vis-a-vis raids nearing the completion stage. During this process, documents or items placed under prohibition would be evaluated.

Following this, such items may either be taken into custody by authorities or will be handed back to the assessee.