Tax sleuths now set their eyes on DK Shivakumar's foreign investments

Income tax officials discovered several documents related to DK Shivakumar's properties and investments abroad The documents reveal investments in Singapore and other foreign locations, and a property deal involving the son of a former chief minister from the BJP Tax officials found ownership documents relating to shopping complexes in Dubai and Singapore and a property in Birmingham near London

Income tax officials continued their search at the properties of Karnataka Energy and Power Minister DK Shivakumar and his friends and relatives in Bengaluru, Mysuru, Mandya and Hassan in Karnataka and in Delhi for the second consecutive day.

The action against Shivakumar, one of the richest politicians in India with assets worth Rs 251 crore, began early on Wednesday, August 2 and continued late into the night on Thursday.

The Income tax officials seized about Rs 11 crore from Shivakumar’s properties in Delhi, Bengaluru and Mysuru. The investigation of the documents, accounts and financial transactions on the second day at over 70 locations revealed tax fraud and shady property deals.

Several documents of Shivakumar’s monetary transactions were also confiscated.

Sources said the documents reveal investments in Singapore and other foreign locations, and a property deal involving the son of a former chief minister from the BJP.

Reports said the tax officials found ownership documents relating to shopping complexes in Dubai and Singapore and a property in Birmingham near London, reported the Deccan Herald.

Tax officials questioned Shivakumar for about two hours about his connections with some solar power equipment firms.

A note maintained by Shivakumar purportedly talks about Rs 3 crore being paid to the Congress high command through a hawala channel.

DK Shivakumar’s mother, Gowramma, is confident that her son has done no wrong. "My children have worked hard and earned fame and money in the society. These developments will not perturb them. They will overcome this too," said Gowramma. 

However, she suspects that Chief Minister Siddaramaiah is behind the raids and said that several ministers are jealous of her son’s meteoric rise.

While searching at Shivakumar’s house, IT officials got an electrician to open up the ACs. They suspected that he stashed away cash inside.