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Saturday, Nov 16, 2019

IT raids on Kalki Bhagwan premises in 3 states yield 90kg gold, Rs 64 cr cash

The raids on the self-styled godman’s ashram and premises which began on Wednesday across three southern states ended on Sunday.

india Updated: Oct 21, 2019 21:53 IST
MC Rajan
MC Rajan
Hindustan Times, Chennai
Out of  Rs 64 crore unaccounted cash seized in the raids on the ashram and business premises on self styled godman Kalki Bhagwan, Rs 20 crore was in US dollars,
Out of Rs 64 crore unaccounted cash seized in the raids on the ashram and business premises on self styled godman Kalki Bhagwan, Rs 20 crore was in US dollars,(HT PHOTO)
         

The Income Tax department ended a five-day search operation at the ashram and business establishments of self- styled godman Kalki Bhagwan and his son, Krishna, across three southern states on Sunday with a seizure of Rs 64 crore unaccounted cash, including Rs 20 crore in US dollars, and 90 kg gold jewellery, officials said.

The total value of the seizures was put at Rs 105 crore, according to authorities engaged in the operation in Chittoor, Kuppam, Chennai, Bengaluru and Hyderabad, involving more than 300 IT officials and police personnel.

Incriminating documents relating to financial irregularities and money laundering running to several hundred crores of rupees were also resized uring the search operations, officials familiar with the raids said.

The raids which began Wednesday were carried out at the sprawling ashram at Varadaiahpalem near Chittoor and at the business establishments run by the godman’s son, Krishna. Almost half of the 40 locations where the searches were conducted were in Chennai and its neighbourhood.

According to sources, the raids followed intelligence inputs about tax evasion and financial embezzlement.

The IT officials have unearthed evidences for unaccounted cash receipts for Rs 409 crore, undisclosed HDFC bank account credits to the tune of Rs 115 crore, unreconciled bogus share capital for Rs 61 crore, issue of deemed dividend along with interest disallowance on borrowed funds around Rs 90 – 100 crore, KPL Assets Lts., profit determined at Rs 20 crore but not offered, foreign investments of Rs 85 crore through hawala channels and documents pertaining to foreign assets and investments.

Kalki’s son Krishna, who is manages the ‘Oneness Temple,’ a spiritual university with ultra modern facilities at the headquarters, also runs a few construction firms named While Lotus, Golden Lotus, Blue Water and Dream View among others. Krishna, who resides in Chennai, is said to have invested heavily in the business ventures of his associates, which too have come under the scanner.

Even as the raids were on, IT sleuths questioned Krishna at his office in the upmarket Nunagambakkam area in Chennai about the source of investments in the purchase of land in the country and abroad.

There has been no reaction from the ashram to the tax raids and about allegations resurfacing against them. HT’s attempts to get a response from Kalki ashram also proved futile.