Rs 245 crore deposit: Christy firm owner grilled

It is said that a businessman, on behalf of a private firm, deposited the huge amount in the bank after the Centre announced demonetisation of high value currencies. The same firm also reportedly credited Rs 10,000 in the accounts of all its employees during the same period. 

However, a probe is under way to find out if Christy Friedgram Industry supplying eggs and protein to the noon meal scheme of the state government was behind these unaccounted transactions. It had allegedly swindled in crores by fabricating bills through shell firms, which were also approved by the Tamil Nadu Civil Supplies Corporation. 

While the search at the head office of the firm in Tiruchengode continued on Monday also, I-T officials quizzed its owner Kumarasamy in an undisclosed location. After the end of the search around 7 pm, huge volumes of seized documents and electronic gadgets were sent away by I-T officials in a van to Chennai for a detailed examination. Meanwhile, cashier Karthikeyan, who attempted suicide, has been shifted to a private hospital in Coimbatore for further treatment. 

However, an intensive search at his house in Tiruchengode resulted in the seizure of over 100 pen drives and many computers, which may contain details on important transactions and deals of the firm. Curiously the annual tender for supplying eggs to noon meal scheme of the state government was to be held on Wednesday. 

The staff of Christy firm said that the raid was an outcome of misinformation out by rivals and to prevent their company from getting the egg supply contract.

The Income Tax department on Monday concluded raids on premises of Christy Friedgram Industry, seizing a total of over Rs 17 crore and 10 kilograms of gold valued at over Rs 2.5 crore, sources said.   

The income tax sleuths began searching 72 premises belonging to Christy Friedgram Industry, the firm supplying egg and pulses for the noon meal scheme, and its business partner Agni Group on Thursday. Although the raids have been concluded, the firm’s head TS Kumaraswamy is being grilled by I-T sleuths in his native town of Tiruchengode. “He had been claiming that he is leading a life of sanyasi all these years. He also told the investigators that because of the I-T raids he may not get any contracts further,” department sources said. 

While the searches were going on, the taxmen had questioned and searched the house of M Sudha Devi, an IAS officer heading the Tamil Nadu Civil Supplies Corporation in Nerkundram. Bills of Christy Friedgram Industry were cleared by the civil supplies corporation. I-T officials had suspected that the company was evading tax and created shell companies to fabricate fake bills, which were  approved by the Tamil Nadu Civil Supplies  Corporation.