VK Sasikala, an in depth aide of former Tamil Nadu Leader Minister Jayalalithaa, has come to mild. Consistent with an FIR by way of CBI, Sasikala had allegedly paid Rs 450 crore in outdated notes to shop for a sugar manufacturing facility all through demonetisation in 2016.
This situation is said to Padmadevi Sugar Restricted (PSL). This sugar manufacturing facility is accused of inflicting a lack of about Rs 120 crore to the Indian Out of the country Financial institution (IOB). The financial institution declared this account a fraud within the 12 months 2020. The CBI had registered a case in opposition to Padmadevi Sugars Restricted at the route of Madras Top Court docket on this case. On the other hand, Sasikala’s title in FIR isn’t registered as accused.
Consistent with FIR, the PSL sugar mill was once confiscated by way of the Source of revenue Tax Division beneath the benami assets transaction act, which was once positioned as a loan with the financial institution.
The Source of revenue Tax Division raided a number of puts all through the investigation in opposition to Sasikala within the 12 months 2017. The Source of revenue Tax Division allegedly get a number of paperwork and unfastened sheets all through this motion. Those paperwork recommend that “all through demonetisation, Patel Staff was once paid Rs 450 crore for the acquisition of a sugar mill.” The financial institution accused the CBI in its criticism. This criticism is now a part of the FIR.
Jayalalithaa died on 5 December 2016 in a personal clinic in Chennai.
Within the criticism of the Indian Out of the country Financial institution (IOB), it’s been alleged that PSL’s Hitesh Shivgan Patel had mentioned at the affidavit that he gained a complete of Rs 450 crore within the outdated notes for the sale of the Chinese language manufacturing facility at Kanchipuram. Hitesh Patel controlled PSL’s monetary issues and Prabhat was once accountable for the gang.
The criticism alleged that the Memorandum of Affiliation (MOU) Hitesh Shivgan Patel, his father Shivgan Patel and brother Dinesh Patel have been signed by way of the manufacturing facility gross sales. The Source of revenue Tax Division seized those paperwork all through the hunt on November 18, 2017.
Accused of benami assets
The Source of revenue Tax Division declared the manufacturing facility a benami assets at the foundation of seized paperwork and percentage certificate. The dept claims that even after the deal, the Patel was once owned by way of the Staff Manufacturing unit and the valuables was once in fact bought for the advantage of Sasikala. The criticism alleged that Sasikala is the beneficiary proprietor and assets is benami on this case.
CBI investigation and raids
Officers mentioned the CBI raided six puts in Tamil Nadu on August 12, after taking into its hand in July. A CBI spokesman mentioned that the allegations made by way of IOB come with dishonest tax credit score amenities, abuse of assets, diverting budget to different corporations, shifting cash to shell and benami corporations and suspected money deposits all through demonetisation.
The CBI mentioned in a remark that the allegations additionally come with money deposits of suspected starting place all through demonetisation in 2016. He mentioned that faux or benami corporations also are suspected to switch budget to cover the overall use of the quantity borrowed at the corporate and its allies.