I-T department raids Jaya TV run by Sasikala's family
What's the story
The I-T department raided the offices of Jaya TV, which is controlled by jailed AIADMK leader VK Sasikala and her family members. The raids were related to money laundering and tax evasion allegations. These raids have targeted 10 firms, of which three reportedly belong to Jayalalithaa's close aide Sasikala's family. Currently, Sasikala's nephew Vivek Jayaraman oversees the day-to-day functioning of Jaya TV. Here's more!
About
What is Jaya TV?
Jaya TV was launched by former TN CM Jayalalithaa in 1999. It was the ruling AIADMK's mouthpiece for many years. Later, Jaya Network launched a news channel, music channel and movie channel. Its parent company is Mavis Satcom Ltd. Sasikala is the major shareholder of Mavis with 81% holding. Sasikala's other nephew TTV Dhinakaran's wife and her sister also manage Jaya TV.
Do you know?
Which are the other firms being raided?
Apart from Jaya TV, Surana, Sunil, Puducherry Sree Lakshmi, Wind Subramanian are the other firms being raided for suspicious fund deposits. I-T officials said searches were on at 187 locations, associated with the 10 firms across TN, Bengaluru, Hyderabad, Delhi etc.
Reason
Why are the raids being conducted?
PTI reports that the raids are being conducted over purported shell companies, dubious investments, fund flow and misrepresentation of accounts undertaken by Jaya TV. The raids are a part of "Operation Clean Money" searches. Premises of Midas Distilleries and Jazz Cinemas, reportedly associated with Jaya TV, Vivek's residence and office and his sister's house are being raided.
Information
What is Operation Clean Money?
The I-T department had initiated "Operation Clean Money" in January 2017, immediately after the government's demonetization drive to identify tax evaders with undeclared incomes. In the first phase, about 18L persons were identified through data analytics.
Backdrop
What is the backdrop of these tax raids?
Jaya TV recently became critical of AIADMK, after a rift between Sasikala and CM Palaniswami. Palaniswami dumped Sasikala for patching up with rebel Panneerselvam. Further, the united-AIADMK adopted a resolution to reclaim Jaya TC and Namadhu MGR, the party's newspaper, from Sasikala. Jaya TV slammed this decision as attacking press freedom. The two factions are fighting over the party's two leaf symbol.