New Delhi: As VK Sasikala is set to take over as Chief Minister of Tamil Nadu, an NDTV investigation has found that the long-time companion of the late J Jayalalithaa remains embroiled in a web of conflicts of interest and dubious financial links.
Both Ms Sasikala and Jayalalithaa were convicted of corruption charges. They were later acquitted, but the Supreme Court is expected to pronounce verdict on the acquittal within a week.
Despite the shadow of this taint, Sasikala continued to expand her business interests, using, as we found, companies embroiled in that corruption case.
As recently in January 2015, she became the majority owner of a company called Jazz Cinemas Pvt Ltd. She presently owns shareholding worth Rs 9.9 crore in the company, regulatory filings accessed by NDTV show.
But the biggest infusion of approximately Rs 6 crore into Jazz has come from a company called Nammudu MGR, the AIADMK's party mouthpiece.
That is not all. In 2015, Ms Sasikala became a 48 per cent owner, via Jazz Cinemas, of another family firm, Midas distilleries.
The other 50 per cent is controlled by Sasikala's relatives.
Ms Sasikala is also the director for life of another firm, Sri Jaya Financials Private Limited. This has all the hallmarks of a shell company, which shows zero revenue, yet it has allotted shares of a whopping Rs 12 crore. Yet again, its biggest investors are Jaya Publications and Nammudu MGR, both, as we mentioned, have found to have fraudulent sources of funds.
He also denied that the sources of funding were fraudulent, saying that the court is yet to pronounce final verdict on her guilt.
Both Ms Sasikala and Jayalalithaa were convicted of corruption charges. They were later acquitted, but the Supreme Court is expected to pronounce verdict on the acquittal within a week.
Despite the shadow of this taint, Sasikala continued to expand her business interests, using, as we found, companies embroiled in that corruption case.
As recently in January 2015, she became the majority owner of a company called Jazz Cinemas Pvt Ltd. She presently owns shareholding worth Rs 9.9 crore in the company, regulatory filings accessed by NDTV show.
But the biggest infusion of approximately Rs 6 crore into Jazz has come from a company called Nammudu MGR, the AIADMK's party mouthpiece.
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That is not all. In 2015, Ms Sasikala became a 48 per cent owner, via Jazz Cinemas, of another family firm, Midas distilleries.
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The other 50 per cent is controlled by Sasikala's relatives.
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Ms Sasikala is also the director for life of another firm, Sri Jaya Financials Private Limited. This has all the hallmarks of a shell company, which shows zero revenue, yet it has allotted shares of a whopping Rs 12 crore. Yet again, its biggest investors are Jaya Publications and Nammudu MGR, both, as we mentioned, have found to have fraudulent sources of funds.
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He also denied that the sources of funding were fraudulent, saying that the court is yet to pronounce final verdict on her guilt.
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