Rs 265 cr unaccounted income unearthed

Rs 265 cr unaccounted income unearthed

Bengaluru: September 29, 2016, DHNS: The Income Tax Department has unearthed one of the biggest unaccounted money of over Rs 265 crore from various business entities of D K Audikesavulu Group. The premises searched include Vydehi Medical College and Hospital at Whitefield, Mallya Hospital and other related business entities in the city.

The income tax officials had been searching the premises in Bengaluru and also places in Andhra Pradesh, Tamil Nadu and Delhi from September 23. A senior official said Rs 43 crore in cash was seized from the house of one of the trustees of Vydehi Institute of Medical Sciences and Research Centre . Search was also conducted at the residences of key persons of the group in various cities in Karnataka and in other states.

“The cash seized was found to have been generated from the donations received at the time of admission in the medical college. The unprecedented cash seizure is the highest so far in Karnataka and Goa.

This apart, several incriminating documents and other forms of evidence have also been seized. All these seizures have resulted in an immediate disclosure of unaccounted income of over Rs 265 crore. Further scrutiny of the evidence found during the search operations is in progress,” an official said.

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