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