I-T Raid Seizes ₹42 Crores Hidden In 22 boxes, Suspects Election Funding

Following Income Tax raids late last night, a whooping sum of Rs 42 crore in cash was found hidden in 22 boxes under a bed at a house in Bengaluru. The cash in 500 denominations were recovered from the house of Ashwathamma, her husband R Ambikapathy, their daughter and Ashwathamma”s brother-in-law Pradeep in RT Nagar.

Telangana”s Finance Minister and Bharat Rashtra Samithi (BRS) leader, Harish Rao pointed the confiscated money to election funding in his state.

Minister claims that money had money had been collected from builders, gold businesses and contractors in the name of Telangana tax, and added that it was part of ₹ 1,500 crore being sent in from the neighbouring state to fund the Congress election campaign in the state led by Chief Minister K Chandrashekar Rao(KCR), NDTV reports.

Similarly, BRS Working President K T Rama Rao also accused Congress for pumping crores of rupees into Telangana to obtain votes in the upcoming Assembly polls.

Prime Minister Narendra Modi, while addressing a public meeting in Nizamabad, Telangana asserted that since KCR had funded the Congress elections in Karnataka, in the upcoming election Karnataka was sending money to aid the BRS in Telangana.

Over suspected tax evasion, the I-T officials undertook raids and searches at 25 places in Bengaluru over the last couple of days. As per the reports, the money was supposed to be transferred to Hyderabad via Chennai from Bengaluru.

R Ambikapathy is the vice-president of Bruhat Bengaluru Mahanagara Palike (BBMP) Contractors” Association and had previously accused the BJP government for taking 40 per cent commission on public projects. Ashwathamma is the elder sister of former Congress MLA Akhand Srinivasamurthy.

Telangana will go to the booths on November 30, and the counting of votes will take place on December 3. Besides Telangana, Madhya Pradesh, Chattisgarh, Rajasthan, and Mizoram is going to assembly polls by the end of the year.