Daijiworld Media Network - Bengaluru (SP)
Bengaluru, Feb 22: State water resources minister, D K Shivakumar, who is already facing heat relating to allegations of accumulating illegal wealth and tax evasion, may face fresh trouble from Securities and Exchange Board of India (SEBI) and election commission. It is said that income tax department has written to SEBI and election commission on these aspects.
The department found that in violation of law, Shivakumar had transacted land deals running into crores of rupees through reputed real estate company, Sobha Limited, in the names of himself and his family members. His income rose 230 percent once every five years, but the affidavit provided to election commission does not disclose this, it is alleged. The department wrote to SEBI and election commission on February 15 and 16 to take action against misuse of public money and furnishing false information to election commission.
Sobha Limited, which has been accused of furnishing false information to its shareholders, also may face problems because of this letter. Being a listed company, it has to keep its accounts transparent. It is being alleged that the company had illegally transferred or used money for the family of Shivakumar.
The department had found that construction of house at Sadashivanagar here and site at Hosakere Halli and some other deals were made in the name of the minister's mother, Gowramma. When Gowramma was questioned relating to tax evasion, she claimed that she invested agricultural income in other sectors. However, reality check revealed that there is vast difference. The property so acquired was later transferred in the names of minister's wife, Usha Shivakumar, and daughter, Aishwarya.
The department found several huge transactions in the bank account of Gowramma by Sobha Limited. Gowramma had said she kept agricultural income at home and used it to acquire assets. However, crores of rupees were transferred through her accounts for which she could not give proper applications. The officials question as to how a person who is not an income tax payee have crore of rupees transactions in her bank account.