Chennai:The Income Tax Department has initiated proceedings to seize assets worth about Rs 300 crore of Shashikala. The benami prohibition unit of the Income Tax Department has started the process of confiscating 65 properties, including land possessed by Shashikala in and around Chennai. Prior to this, the authorities had issued notices to Shashikala’s benami companies and various sub-registrar offices.
The confiscation will also include a bungalow being built by Shashikala near Jayalalithaa’s house in Pooja Garden, Chennai. Shashikala is abide in the Agrahara Jail in Bangalore on a charge of illegal acquisition of property. Shashikala is building a house near the pain center to stay when she is released from jail. Sri Harichandana Estates, registered in Hyderabad in March 1995, is a benami company of Sasikala. Shashikala bought about 65 properties on 200 acres between 2003 and 2005 through a company operating in the real estate sector and is currently valued at Rs 300 crore. Informed the circles. The company was named after Kaliyaperumal and Sivakumar. Shashikala is also a major partner in Jazz Cinemas and Midas Golden Distilleries.
In addition to the Pooja Garden, properties in Alandur, Tambaram, Guduvancheri and Sriperumbudur in Chennai will also be confiscated. The investigation also revealed that the company did not have the business or revenue to buy these. In 2017, the Income Tax Department searched about 180 properties of Shashikala and her family. Last year, the Income Tax department seized assets worth Rs 1,600 crore from Shashikala’s benefactors. Shashikala was jailed in 2017 on a charge of illegal acquisition of property. The move is said to be part of the AIADMK’s move to block Shashikala’s entry into politics after serving a four – year sentence.