Hyderabad : In a significant development, the Income Tax Department has initiated raids on Vivek Venkataswamy, Congress’ Chennur Assembly candidate and one of the wealthiest contestants. The raids, reportedly based on recent transactions by Vivek Venkataswamy, come amid suspicion regarding a fund transfer amounting to Rs 8 crore.
News reports suggest that Income Tax (IT) sleuths have raised concerns about the aforementioned fund transfer of Rs 8 crore, prompting the initiation of these raids. Hyderabad Police, in response to instructions from the Election Commission, froze an online transaction worth Rs 8 crore involving Visaka Industries and another company. The police visited IDBI Bank’s Basheerbagh branch to inquire about the alleged transaction and subsequently froze it. Additionally, the police informed both the Income-Tax department and the joint director of the Directorate of Enforcement in the Hyderabad zone.
The ongoing raids are being conducted at various properties owned by Vivek Venkataswamy in Hyderabad, Mancherial, and other locations. Notably, Vivek had recently resigned from the Bharatiya Janata Party (BJP) and joined the Congress party. The sudden raids have sparked protests among Vivek’s followers and Congress activists, who gathered outside his residence in Mancherial, expressing their discontent and raising slogans against the BJP and Prime Minister Narendra Modi.
Vivek Venkataswamy, popularly known as the industrialist politician, is the founder and chairman of Visaka Industries Ltd, holding shares valued at Rs 285 crore in the company. According to the affidavit submitted to the Election Commission during his nomination for the Chennur constituency in Mancherial district, Vivek has declared movable and immovable assets totaling Rs 606.66 crore. His movable assets amount to Rs 328.91 crore, while his wife G Saroja possesses assets worth Rs 51.84 crore.
The 66-year-old former Member of Parliament (MP), Vivek Venkataswamy, who witnessed a significant increase in assets since 2014, when he contested for Lok Sabha from Peddapalli, is yet to respond to the ongoing raids. Further details are awaited as the situation unfolds.
