Bengaluru: Rs 4-5 crore in cash was “seized” during raids by over 100 Income-Tax (I-T) Department sleuths on the premises of Karnataka Congress leaders G. Parameshwara and R.L. Jalappa in Bengaluru and other places in the state, an informed source said here on Friday.
“Search and seize operations in 25-30 premises of G. Parameswhara and R.L. Jalappa are continuing since these began early on Thursday, for alleged tax evasion and non-disclosure of disproportionate assets from the educational institutions they run with relatives and friends,” the source told IANS requesting anonymity. About Rs 70 lakh in cash alone was reportedly found and seized from G. Parameshwara’s residence in the city’s upscale northwest suburb of Sadashivnagar.
G. Parameshwara, 68, was the Deputy Chief Minister in the 14-month-old JD (S)-Congress coalition government and former president of the party’s state unit for over six years.
An I-T official, however, declined to confirm the seizure of cash and documents as the search operation was continuing and a statement will be issued after the exercise by the director-general of the investigation wing. “Till the exercise is completed and seizures are valued, we cannot disclose them, as they will hamper the investigations. We may issue a statement after the operation is completed” the I-T official said.G. Parameshwara and R.L. Jalappa, 93, together with their family and relatives, head a chain of higher education institutions, including medical, dental and engineering colleges in the state’s southeast region. (IANS)