Seizure of cash in huge quantities continues in Tamil Nadu evenas IT conducted search operations and places suspected to be hoarding cash for possible use in elections.

On Monday, the IT department sleuths recovered a sum of Rs 14.18 crore from PSK Engineering.

“The searches in PSK Engineering is temporarily concluded. Total cash seizure is Rs.14.18 crore and Rs.112 crore of unaccounted income has been admitted,” an IT source said.

Search operations were carried out at the premises of PSK Engineering here, Namakkal and Tirunelveli to flush out cash meant for bribing of voters. on April 12. The company is into construction business.
 
Apart from cash, the searches also found several incriminating documents and accounts with details of generation of unaccounted money by inflating the expenditure, payments made to influential persons and also unaccounted capital introduced.

According to sources, search operation carried out in the premises of one Sujai Reddy, evidence of investment of Rs.16 crore in a Malaysian company by him was found which was not disclosed in his IT returns. Unaccounted cash was also seized from Reddy’s premises.

EC officials too carried out surprise checks at the hostels of MLAs on Sunday.

The EC flying squad got an information of cash stocked in MLA hostel rooms for distribution to voters here.

The Lok Sabha polls in Tamil Nadu are scheduled for April 18