CHENNAI: A petition has been filed in the Madras High Court seeking directions to the authorities concerned, including the Election Commission of India, the Income Tax department, the Central Board for Direct Taxes and the Enforcement Directorate to hold a comprehensive, independent and time-bound inquiry into ‘diversion and utilisation’ of corporate funds by the Zoho Corporation founder Sridhar Vembu for financing the BJP candidates in the 27 Assembly constituencies the party is contesting.
Advocate P Sundara Vadivelu of Perungudi in Chennai filed the petition alleging the funds from the corporate accounts are stated to have been utilised for the purposes not directly connected with the legitimate business activities of the company.
He said such utilisation of the corporate funds raises grave concerns regarding financial propriety, compliance with statutory obligations, adherence to tax laws and corporate governance standards; any deviation, in this regard, would have serious legal and regulatory implications.
The petitioner said the corporate funds have been directed towards the political persons in the 27 constituencies where BJP is facing the polls including Vasudevanallur (reserved) constituency. Vadivel said if such financial transactions are found to have influenced the electoral process, it would amount to a corrupt practice under section 123 of the Representation of People Act, 1951.
He also filed a representation to Chief Electoral Officer Archana Patnaik, seeking an investigation in this regard.