CHENNAI: Seyad Beedi has admitted undisclosed income totalling Rs 161.56 crore after the I-T department carried out searches in 20 premises and survey in 43 places in TN, Kerala, Karnataka, Chhattisgarh, Andhra and Telengana.
According to the Directorate General of I-T (Investigation), in TN and Puducherry, unaccounted cash worth Rs 5.74 crore was seized. A probe revealed that Seyad Beedi had generated income from unaccounted beedi sales worth Rs 46.10 crore and booked bogus expenditure of Rs 49.5 crore in tendu leaf collection centres in Chhattisgarh. Seyad Beedi also operated a finance company in the name of beedi workers and had unaccounted investment of Rs 13 crore. Similarly, Rs 8.10 crore was generated through unaccounted sale of yarn and waste among other things, an I-T press release added.