The Income Tax raid in the houses and business establishments owned by former Union Minister and DMK leader Swamikannu Jagathrakshakan which commenced on early Wednesday morning continued on Thursday too with sources in the department revealing that they have seized more than Rs 20 crore of unaccounted money in the raid. This include Rs 5 crore seized from Jagatrakshakan’s residence.
Many incriminating documents and details of tax evasion worth Rs 200 crore too has been seized by the sleuths of the Income Tax Department. The raids are being carried out at the residences of Jagatrakshakan at Adyar, Nungambakkam (both in Chennai) and his farmhouse at Mahabalipuram in addition to his business enterprises ranging from distilleries, educational institutions, including Bharat University (a deemed private university), Sree Balaji Medical College and Sri lakshmi Narayana Institute of Medical Sciences (Puducherry). Elite Distilleries Pvt ltd with a production capacity of Rs 1.02 crore cases per year is also owned by the Jagatraksakan family.
Though the reasons behind the lightening inspection on Jagatrakshakan’s houses and business establishments have not been made public, it is said that tax men have information that the former Minister, who served the UPA Government during 2009 to 2013, has evaded Income Tax to the tune of more than Rs 200 crore. It may be remembered that his name had figured prominently in the coalgate scam which shook the then Manmohan Singh Government.
Jagatrakshakan was at his Adyar residence when the sleuths stormed into the house and he was prevented from leaving the house. The DMK leader and his family memners were questioned by the sleuths regarding some of the documents seized from the houses.