IT dept seizes Rs 5 cr cash in raids against former K'taka Dy CM Parameshwara, others

Bengaluru, Oct 11: The Income Tax Department has seized about Rs 5 crore cash during raids against former Karnataka deputy chief minister G Parameshwara and others, officials said on Friday. They said the raids that began on Thursday are ongoing at about 25 locations.

About Rs 5 crore cash has been seized till now from various premises that were searched, they said. In coordinated raids, more than 300 Income Tax sleuths swooped down on premises linked to two prominent Congress leaders in Karnataka - the former deputy chief minister and former MP R L Jalappa's son J Rajendra.

The raids are in connection with a multi-crore tax evasion case linked to the NEET exams, officials said. Besides raiding the office, residence and institutions belonging to Parameshwara, the I-T officials also searched the residence of his brother G Shivaprasad and personal assistant Ramesh, sources in the department said.

While Parameshwara's family runs the Siddhartha Group of Institutions, which was established by his father H M Gangadharaiah 58 years ago, Rajendra runs the R L Jalappa Institute of Technology at Doddaballapura and Kolar.