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IT Officials Seized 42 cr at Bangalore Karnataka

IT Officials Seized 42 cr at Bangalore Karnataka

Uncovering the IT Raids on Prominent Karnataka Contractors Ambikapathy

In a dramatic turn of events, Income Tax (IT) investigators initiated extensive search and seizure operations on October 12, targeting several well-known contractors in Karnataka. IT Officials Seized 42 cr at Bangalore Karnataka ,These operations have sent shockwaves through the state. In this article, we delve into the details of this incident, uncovering the key information surrounding these IT raids.

The Targeted Contractors

The IT sleuths wasted no time, launching raids on at least five prominent contractors. Among them, R. Ambikapathy, the President of BBMP Contractors’ Association and Vice-President of Karnataka Contractors’ Association, found himself at the epicenter of this operation.

A Mysterious Cache of Money

Rumors swirled that a substantial amount of money, potentially exceeding a staggering ₹40 crore, was unearthed during these operations. However, the IT sleuths have maintained a tight-lipped stance, leaving no room for independent confirmation. Sources suggest that the discovered wealth was concealed within over 20 cardboard boxes, discreetly tucked beneath a bed in a flat not inhabited by the contractor.

Suspicious Activities Unfold

Allegations have surfaced claiming that the contractor had made efforts to delay the surrender of keys to the flat where the money was uncovered. It is believed that a covert operation to shift the concealed money was in progress at the time of the raid. The IT sleuths carried out their search during the early hours of a Friday, adding a layer of intrigue to the unfolding events.

The Contractor’s History

To provide context, R. Ambikapathy had played a prominent role in a campaign organized by the Karnataka Contractors’ Association. This campaign alleged that, under the previous BJP regime, kickbacks for state government contracts had reached an astonishing “40% commission.” It is worth noting that Ambikapathy and other contractors were previously arrested due to a criminal defamation case filed by former minister Munirathna, centered around corruption allegations. They were later released.

Family Ties and Connections

Ambikapathy’s family is intricately connected to the political landscape. His wife, a former city councillor from Janata Dal (Secular), shares ties with former JDS and Congress MLA Akhanda Srinivasamurthy from Pulikeshinagar. While various members of the couple’s extended family are also under scrutiny in these raids, Srinivasamurthy himself has not fallen under their scope.

The Mystery Deepens

Ambikapathy, once a significant player in the contracting scene in the city, has been inactive in terms of taking on substantial contracts for nearly a decade due to health reasons. This revelation has raised eyebrows among fellow contractors in the city, as they express shock at the substantial cache of money reportedly discovered on his premises. The situation is leaving many questioning the true nature of this unfolding saga.

In conclusion, the IT raids on these prominent contractors in Karnataka have unearthed a complex web of allegations and intrigue. As more information emerges, the true extent of this financial discovery and its implications for the state’s political and business landscape remain uncertain.

Ambikapathy has two daughters. Currently, it has come to light that one of his daughters, Divya, had a significant amount of money discovered by income tax officials at her residence in Manyata Tech Park on a Thursday midnight. The income tax officials conducted a raid on the house located in Ganesha Block, Manyata Tech Park, in January. Later, the family had recently shifted to Manyata Park, where they had purchased a building a few years ago. Their extended family lived in the building on the lower floors, and the family resided in the topmost floor.

Even though Ambikapathy had moved to the new house, most of their business transactions were still conducted in the old house in Kaval Bairasandra. Occasionally, meetings and other dealings took place at the old house, where it is likely that some financial transactions were also carried out. This is why Ambikapathy occasionally visited the old house to meet with close associates. Income tax officials have also extended their investigation to the old house.

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