The raids are being conducted against the backdrop of BJP chief Annamalai's charge that Stalin's family has amazed wealth through G Square.
The I-T sleuths started the raids at 7 am on Monday and more than 300 officers are involved in the search operations.
On Monday, 24 April, the Income Tax (I-T) Department was conducting raids — as we write — at more than 50 places in premises related to Tamil Nadu’s biggest realtor firm G Square and at the house of a Chennai-based DMK MLA.
The raids are being conducted against the backdrop of BJP state president K Annamalai’s charge that Chief Minister MK Stalin’s family members have amassed wealth using the real estate firm.
The real estate firm, which has a base in Tamil Nadu, sells properties in Chennai, Kanchipuram, Coimbatore, Tiruchy, Hyderabad, Mysuru, and Bengaluru, and is owned by Rangaswamy Ramajayam. It allegedly has close connections with the power centres of the DMK
The I-T sleuths started the raids at 7 am on Monday and more than 300 officers are involved in the search operations at various locations in Tamil Nadu, Karnataka, and Telangana.
The Central Reserve Police Force (CRPF) have been deployed for security at the premises where search operations are going on.
DMK MLA MK Mohan. (Creative Commons)
According to sources, the search is also being conducted in the properties of DMK MLA MK Mohan, who is a legislator of the Anna Nagar constituency, as well as in the properties of his son Karthik Mohan, who is a close associate of MK Stalin’s son-in-law Sabareesan, for having ties with the real estate firm.
Further, a team of I-T sleuths is also raiding the premises of an auditor, Shanmugaraja, who is said to be linked with Sabareesan.
DMK cadres have gathered in front of MLA Mohan’s house and are protesting against the I-T Department for conducting raids on properties related to a DMK MLA.
On 14 April, Annamalai, while releasing the “DMK Files”, had stated that G Square is owned by the “First Family” of the DMK and also said that Sabareesan has connections with the real estate firm.
Meanwhile, G Square issued a statement as the search operations were underway, clarifying that it has no connections with the “First Family” of the DMK.
Addressing the statement to BJP’s Annamalai, G Square said that the allegations have caused unrest among their customers, stakeholders, employees, and the general population, indirectly impacting their business.
“Over the past 10 years, we have earned an impeccable reputation and goodwill among the general public, and are considered to be one of the largest land promoters and aggregators in South India,” the statement read.
The real estate firm stated that it has delivered over 1,000 acres of land to reputed business enterprises such as Indiabulls, Murugappa Group, JK Tyres, CEAT, Casa Grande, Alliance Group, TVS Infrastructure, TCI Express, Ascendas-Singbridge Group, etc, thereby acting as a bridge to the employment of around 25,000 people working at these organisations, helping thousands of families earn their daily bread.
G Square further stated that they directly contributed to the economy of the nation through payment of more than ₹125 crore towards stamp duty/registration fee and more than ₹300 crore as taxes.
Denying the investment details as charged by Annamalai, the real estate firm said: “In the video clipping you have claimed that G Square is owned by the 1st family of DMK, has a total revenue holding of ₹38,827.7 crore and that the said funds were wrongfully amassed through corruption, which is absolutely false and baseless.
“We hereby clarify that our company is neither owned nor controlled by the 1st family of DMK and that all the allegations… are purely false and baseless.”
G Square, which undertakes several luxury housing projects, has been embroiled in a few controversies after the DMK came to power.
In April 2021, four days before the state Assembly elections, I-T Department officials raided the residence of G Square Realtor’s Managing Director Bala Ramajayam, the company’s premises, and places related to Karthik Mohan, a friend of Sabareesan.
On 24 May, 2022, the Chennai City police filed an FIR against Tamil magazine Vikatan, YouTuber Maridhas, and whistleblower “Savukku” Shankar for speaking against G Square Realtors.
Later, the complaint was dropped by the city police after various political parties and press associations raised strong objections against the move.
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