Chennai, Sept 29: The Income Tax raids that were conducted at the residence of former AIADMK minister Natham Vishwanathan recently is just a tip of the ice-berg.
While the Enforcement Directorate is yet to come into the picture, the Income Tax Department is preparing a report which would detail the various transactions allegedly made. Once the ED comes into the picture, it would be able to probe whether money belonging to the former minister was allegedly being laundered abroad by a businessman.
The Income Tax Department earlier this month had raided the house of Viswanathan and Vetri Duraisamy, son of Mayor Saidai Duraisamy on the allegation that they had evaded tax. Searches were carried out in 40 other locations.
The raids were a result of a crackdown following the use of unaccounted money seized from businessman C P Anbunathan at Karur during the recent election process in Tamil Nadu.
Money to the tune of Rs 4.8 crore was being carried in an ambulance which had a government of India sticker and also a logo of the Nartional Rural Health Mission.
The Income Tax department during the seizure of the files has learnt that more than the tax evasion it had found transactions which were allegedly benami in nature. Money being laundered with the help of a businessman is also under the radar of the investigators.
Once the IT department gets a clearer picture, the ED is likely to look further into this case. Cases of money laundering are probed by the Enforcement Directorate.
Also under the radar is an alleged money transfer of Rs 200 crore to Hong Kong which the officials suspect was done through Anbunathan. Former Chief Minister of Tamil Nadu had also sought for details about the link between the former power minister of Tamil Nadu and the businessman.
The Income Tax Department, however, states that the matter is still under investigation and they have not concluded anything as yet. However, it also says that raids would continue and there is a huge cache of documents that need to be examined.
All the raids that were conducted were on the basis of the material that was seized when they raided Anbunathan's premises, the IT department also says.
Also under the scanner of the investigators will be the power purchase deals that were entered into when Natham was the power minister. Once the IT department gets more details several bureaucrats will be questioned.
The money trails to Hong Kong will also be probed into. It is just the tip of the ice-berg and during the course of the investigation we are confident that more details would come out.
Further officials also say that they will also probe into alleged property transactions that have been made abroad. Alleged foreign exchange diversion, a hawala transaction and a host of benami transactions are also under the radar of the investigators.
The ED is likely to seek out these details soon following which the foreign links will also come under the scanner, a source informed.