Karnataka: IT department raids Congress' G Parameshwara, recovers 4.25 crore cash

Over Rs 4 crore in cash was recovered by Income Tax department during raid at various locations linked to former Karnataka Deputy Chief Minister G Parameshwara and his aids, official stated this morning.

Rs 4.25 crore has been recovered till now from multiple locations that were raided, official said.

Around 30 locations in Bangaluru and Tumakuru linked to G Parameshwara were raided. The IT department is continuing with the raid this morning as well. The raids conducted are in connection to alleged multi crore tax evasion case linked to medical entrance exams, official said.

In correlating raids, around 300 Income Tax officials searched the locations linked to two Congress leaders in Karnataka, G Parameshwara and MP RL Jalappa.

The raids conducted were based on a tip off that medical seats were being given out at the price of Rs 50 lakhs to 60 lakhs, the sources in the IT department stated that the raids has culminated in the seizure of cash and incriminating documents proving the reported irregularities.

The residence of Mr Parameshwara’s brother’s son, Anand and Siddhartha Medical College are being searched by the IT department today, the institute is run by a trust linked to the Congress leader.

Previously, Mr Parameshwara had stated that he was unaware of the raids and that he is ready to sort out if there is any mistake from his side. "I am not aware of the raid. I don't know where they are doing it. Let them search, I have no issue. If there is any fault from our side, we will rectify it," he had told news agency ANI.

"These raids are politically motivated. The Election Commission has indicated the calendar of events for the by-election to the Karnataka assembly, " Mr Jalappa had told NDTV.

Mr G Parameshwara was the Deputy Chief Minister in HD Kumaraswamy led JD(S)- Congress government.