The Income Tax Department initiated raids at more than 40 locations linked to former Union Minister and current DMK Lok Sabha MP S. Jagathrakshakan on suspicion of tax evasion.
The properties being searched include his luxury hotel in Chennai’s T Nagar, a college in Poonamallee, and Dr. Reela Hospital in Chrompet, Chennai.
Jagathrakshakan, who was elected to the Lok Sabha in 2019 from Arakkonam constituency, is the founder of the Accord Group, a Chennai-based conglomerate involved in various sectors like hospitality, pharmaceuticals, liquor manufacturing, and education.
In the 2019 election affidavit, he declared assets worth ₹1,14,69,84,897 and liabilities of ₹11,24,97,29,175, making him one of the wealthiest DMK leaders. Additionally, he has two pending criminal cases, as per the affidavit.
In 2020, the Enforcement Directorate froze his assets following allegations of illegal money transfers, but the Madras High Court later dismissed the case.
BJP Tamil Nadu President K. Annamalai had released in DMK Files Part 1 about the details of the assets own by DMK MP Jagathrakshakan.
According to the details released by DMK Files, the properties owned by Jagathrakshakan include JR Super Speciality Hospital (₹444.79 cr), Grand Accord Pvt ltd (₹4.06 cr), Accord Energy Corporation (₹343.02 cr), JAM hotel and resorts (₹66.81 cr), Sri Lakshmi Ammal Educational Trust (₹1239.80 cr) and others.
Recently, a short video clip of a boy went viral wherein he reveals that he paid ₹25 lakhs to secure a seat for pursuing an MBBS degree in DMK MP Jagathrakshakan-owned medical college. He also added that entire course expenses at the medical college owned by DMK leader would tally up to ₹1.5 crores, which economically poor students cannot afford.
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