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V.K. Sasikala Claims Proprietorship Over Jayalalithaa’s Partnership Firms Including Kodanad Estate

By Lawstreet Bharat      26 December, 2019 02:12 PM      0 Comments
V.K. Sasikala Claims Proprietorship Over Jayalalithaa’s Partnership Firms Including Kodanad Estate

V.K. Sasikala, former Chief Minister Jayalalithaa’s close aide on December 25, 2019 has claimed to have become the proprietrix of all their joint partnership firms, including the Kodanad Estate saying that the partnership got dissolved when the AIADMK leader died on December 5, 2016. After Jayalalithaa’s death, which is also when the Income Tax Department started conducting searches into amma’s properties, Sasikala claims to have carried out the business of the firms in the capacity of a proprietary owner.

V.K. Sasikala was serving time in Karnatak prison on account of her conviction in February 2017 in the disproportionate assets case. When she came out from the prison on a five day parole a raid was conducted by the IT department which led to the discovery of documents showing transactions worth Rs. 1900 crores in demonetized notes. Sasikala denied having any knowledge of the aforementioned transactions.

Reportedly, the Kodanad estate was owned by Peter Jones for twenty years after being forcefully acquired by the late Chief Minister and her crony. India today in the news report from May 2017 published the views of the previous owner Jones who claims to file a petition to re-acquire his property. Apparently, the property was sold at a meagre price of Rs. 7.5 crore. Jones revealed that the sale was not registered but the property was sold under a benami transaction. Benami transactions in India are prohibited by the Benami Transactions (Prohibition) Act, 1988

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