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Rs 70 cr shares of ex-CM’s aide unearthed
The DVAC which conducted searches at the properties of ‘Salem’ R Elangovan, chairman of TN State Apex Cooperative Bank, and his son Praveen Kumar, unearthed investment worth Rs 70 crore in the share market.
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Chennai
Investment in foreign shares is estimated to be Rs 45 crore, while shares in the domestic market have been estimated to be Rs 25 crore, said DVAC sleuths.
Elangovan’s assets at the beginning of the check period in 2014 were over Rs30 lakh and at the end of the check period in 2020 they went up to Rs 5.6 crore.
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