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Chairman of Tamil Nadu Apex Coop Bank under DVAC scanner, raids on at 26 places
DVAC conducting searches in 26 premises of of 'Salem' R Elangovan, President of Salem District Central Coop Bank Salem and Chairman of TN State Apex Cooperative Bank after registering a Disproportionate asset case against him.
By
migrator
migrator
Chennai
DA Case also registered against his son E.Praveen Kumar. Elangovan was said to be a close aid of former TamilNadu CM Edapadi Palaniswamy.
Searches are on at atleast 17 places in Salem, 2 in Chennai, 4 in Trichy as of now. Raids are also happening in Karur and Namakkal as well, DVAC said.
According to DVAC, value of the asset of Elangovan at the beginning of check period in the year 2014 was over Rs.30 lakh and at the end of check period in 2020 the asset value went up to Rs 5.6 crore .
DVAC, after calculating his genuine income, expenses and likely saving has estimated disproportionate wealth of father and son to be worth around Rs.3.7 crore.
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