It has been reported that assets worth Rs 300 crore belonging to Sasikala, who is in jail in an embezzlement case, have been frozen.
The Income Tax Department’s proxy prevention unit has taken action to freeze assets worth Rs 300 crore owned by Sasikala. The Income Tax Prevention Division of the Income Tax Department has issued an order freezing 65 properties purchased in the name of Sasikala Benami in jail in a case of accumulation of assets.
The 65 properties purchased in and around Chennai from 2003 to 2005 are spread over 200 acres. Its current value is 300 crore rupees. The assets are said to have been purchased through a shell company called Sri Harischandana.
It was alleged that Sasikala had made a surrogate transaction for Rs 1,600 crore and bought assets using the devalued money in the company where no transaction took place.
Based on the investigation into these allegations, the Income Tax Department’s proxy blockade has aggressively frozen 65 properties, including 10 Ground land in front of the late Chief Minister Jayalalithaa’s house in Boise Garden, specifically that Sasikala had invested money through the Shell Company and bought the property. An official announcement is expected soon.