IT raids detects Rs 42 crore stashed in cartons

Suspected election funding: Cash seized in bengaluru raid may be linked to Telangana elections, says H.D. Kumaraswamy

Bengaluru: In a raid by Income Tax officials in Bengaluru city on the residence of former Corporator Ashwathamma and Ambikapathy at R.T. Nagar on Friday unearthed an amount of about Rs 42 crore stashed in 23 cartons.
A builder Ambikapathy is the Vice-President of Karnataka State Contractors Association and he had alleged 40 percent commission charge against the previous Bharatiya Janata Party (BJP) government. The cash-filled cartons were kept hidden under a cot before they were discovered by the raiding IT team. The seized cash was of Rs 500 denominations.
Ambikapathy is said to have stopped taking contractor works for close to 8 years and he is said to be involved in real estate, agricultural activities, and owned a stone crusher among other businesses. His wife Ashwathamma was a Corporator once in 1995.
It is suspected that the seized cash was meant to be used in the election expenses of Telangana and over the raid, Janata Dal Secular leader and former Chief Minister H.D. Kumaraswamy suspected that the cash filled cartons were on their way in the election bound Telangana.
He asked the Chief Minister Siddaramaiah to “What probe will you order?” and stated that “Will the probe be either from the Central Bureau of Investigation, Enforcement Directorate, a sitting Judge or from a retired Judge?”
Deputy Chief Minister D.K. Shivakumar alleged that I-T raids are politically motivated and such raids are being conducted not only in Karnataka but in other States as well.

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