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INCOME TAX RAIDS SIES SECRETARY V SHANKAR’S PREMISES IN CONNECTION WITH IPL SCAM

sies-college-3The income tax department raided the premises of the South Indian Education Society (SIES) and the residences of some of its office-bearers for IPL connections. This is probably the first time an educational institution in the city has been raided by I-T officials. The Secretary of the SIES V Shankar is major stake holder in Deccan Chargers. It’s a matter of shame that a 78 year old institute like SIES that has over 15,000 students studying in classes ranging from junior KG to management has come in the line of scanner for its alleged links with the IPL Scam. I-T officials swooped down on the residence of SIES secretary V Shankar and followed it up with raids on the residence of V Shankar’s secretary and other people’s residences. Sources said Rs 52 lakh in cash was seized from the residence of V Shankar’s secretary. Among other things, the tax sleuths are probing an Rs 7 Crore donation allegedly given by Deccan Holdings, which owns IPL team Deccan Chargers, to SIES. A source said a Mercedes car was also donated to SIES and this was under the scanner. V Shankar is a major stakeholder in the Deccan Chargers and also a secretary of SIES. In fact there is more trouble brewing for SIES management as in the raid, the I-T officials assessing the returns of SIES, came across temporary and permanent receipts issued to several students from whom donations were allegedly taken in cash at the time of admission. The IT department has written to the education ministry recommending action against the institution under the anti-capitation law. These scams are might cost V Shankar his post at SIES and has matter of disgrace for the illustrious SIES College. Bureau report – NMTV News.

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