I-T seizes contractor’s ₹4cr from junkyard under Gemini flyover
Sivakumar.B@timesgroup.com
Chennai:19.07.2018
The continuing income tax searches on Chennaibased SPK and Co, in which ₹180 crore in cash and 107kg gold have been seized, have exposed a nexus between some state highways officials and contractors not merely in amassing unaccounted wealth, but also in safekeeping the money.
The I-T investigation wing, which was following the trail of money from contractor Nagarajan Seyyadurai’s premises, seized ₹4 crore hidden at a junkyard of the highways department under the Gemini flyover on Tuesday night. The shop-like structure from where the money was seized is located close to the highways department office on Anna Salai.
Seyyadurai’s firms have been handling several state highways projects including the ₹200-crore project to widen Vandalur-Walajabad Road, and maintenance of several roads in Ramanathapuram, Krishnagiri and Virudhunagar districts for close to ₹2,000 crore.
His business associate in one of the firms is a close relative of a senior AIADMK leader.
This is the third time that income tax officials are searching a state government office in Tamil Nadu in recent years. During the demonetisation phase, I-T officials had searched then chief secretary Rama Mohana Rao’s office at the state secretariat in December 2016. A week ago, I-T officials searched Tamil Nadu civil supplies corporation managing director M Sudha Devi’s office as they were pursuing the nexus between corporation officials and civil supplies contractor Christy Group, owned by T S Kumaraswamy.
The sleuths on Tuesday recovered a few crores of rupees allegedly belonging to Seyyadurai from a house in Mylapore. With this, the total seizure of cash in the ongoing searches on SPK and Co has touched ₹180 crore. I-T officials said they got ₹34 crore from a house in Mylapore. About 107kg of gold was also seized till Wednesday. This is among the biggest seizures of cash in I-T searches in the country, said a senior official in the I-T investigation wing.
“Wehaveseized some more jewellery, but are yet to assess its weight and value,” said the official. The previous highest seizure of cash in the state was ₹170 crore, from sand contractor Sekhar Reddy’s premises in December 2016.
“Nagarajan was expecting I-T searches ever since we knocked the doors of Christy Group a week ago. Thinking that keeping cash and gold at home would be dicey, he had moved it to a few safe havens. Cash was stacked into the boots of some cars too. Since we were keeping track of every movement, we could seize much of the money and gold in the first few hours of the search itself,” said the official.
The search teams had carried a few currency counting machines, and as the volume of the seized cash grew, more machines had to be brought in from State Bank of India after taking special permission from the bank headquarters, the official said.
SECRET CHAMBER: The highways department junkyard under the Gemini flyover where cash was hidden
Sivakumar.B@timesgroup.com
Chennai:19.07.2018
The continuing income tax searches on Chennaibased SPK and Co, in which ₹180 crore in cash and 107kg gold have been seized, have exposed a nexus between some state highways officials and contractors not merely in amassing unaccounted wealth, but also in safekeeping the money.
The I-T investigation wing, which was following the trail of money from contractor Nagarajan Seyyadurai’s premises, seized ₹4 crore hidden at a junkyard of the highways department under the Gemini flyover on Tuesday night. The shop-like structure from where the money was seized is located close to the highways department office on Anna Salai.
Seyyadurai’s firms have been handling several state highways projects including the ₹200-crore project to widen Vandalur-Walajabad Road, and maintenance of several roads in Ramanathapuram, Krishnagiri and Virudhunagar districts for close to ₹2,000 crore.
His business associate in one of the firms is a close relative of a senior AIADMK leader.
This is the third time that income tax officials are searching a state government office in Tamil Nadu in recent years. During the demonetisation phase, I-T officials had searched then chief secretary Rama Mohana Rao’s office at the state secretariat in December 2016. A week ago, I-T officials searched Tamil Nadu civil supplies corporation managing director M Sudha Devi’s office as they were pursuing the nexus between corporation officials and civil supplies contractor Christy Group, owned by T S Kumaraswamy.
The sleuths on Tuesday recovered a few crores of rupees allegedly belonging to Seyyadurai from a house in Mylapore. With this, the total seizure of cash in the ongoing searches on SPK and Co has touched ₹180 crore. I-T officials said they got ₹34 crore from a house in Mylapore. About 107kg of gold was also seized till Wednesday. This is among the biggest seizures of cash in I-T searches in the country, said a senior official in the I-T investigation wing.
“Wehaveseized some more jewellery, but are yet to assess its weight and value,” said the official. The previous highest seizure of cash in the state was ₹170 crore, from sand contractor Sekhar Reddy’s premises in December 2016.
“Nagarajan was expecting I-T searches ever since we knocked the doors of Christy Group a week ago. Thinking that keeping cash and gold at home would be dicey, he had moved it to a few safe havens. Cash was stacked into the boots of some cars too. Since we were keeping track of every movement, we could seize much of the money and gold in the first few hours of the search itself,” said the official.
The search teams had carried a few currency counting machines, and as the volume of the seized cash grew, more machines had to be brought in from State Bank of India after taking special permission from the bank headquarters, the official said.
SECRET CHAMBER: The highways department junkyard under the Gemini flyover where cash was hidden
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