Rs 1,430 crore seized from Sasikala clan was to be invested in real estate

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    Jaya TV raid : Rs 1,430 crore seized by IT department from Sasikala's properties | Oneindia News

    The Rs 1,430 crore that was seized during the Income Tax raids on locations owned by Sasikala and her associates was meant to be invested in real estate. The IT department conducted raids for 5 days and has seized incriminating material.

    Relatives of wife of Vivek, Jaya TV CEO siting out side as they were not allowed inside Jaya TV CEO's house during the Income Tax raid.

    The money that was seized was unaccounted for and was meant to be invested in real estate, senior IT officials said. The official said that they had also seized a considerable amount of diamonds and the valuation of this is yet to be done.

    The property related documents were seized from the properties of Sasikala's nephew and Jaya TV CEO Vivek Jayaraman. IT officials also said that while 16 bank lockers were frozen, they have also found documents which relate to investments in shell companies.

    During the raids that were conducted on the house of Dhivakaran's (Sasikala's brother) daughtetr, Rajamathangi, the officials found documents pertaining to a fleet of imported cars. This is under probe, the IT official also added.

    Another crucial document that was seized was from the family owned Midas Distilleries near Chennai. The officials also found Rs 19 lakh in cash at this place. It was learnt that at the time of demonetisation, huge amounts of cash were converted into gold.

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