SALEM: Directorate of Vigilance and Anti-Corruption (DVAC) officials opened five lockers belonging to friends of the Chairman of Tamil Nadu State Apex Cooperative Bank on Monday.
The DVAC had registered a disproportionate assets case against R Elangovan (57) and his son E Praveen Kumar (27). On October 22, the investigation agency carried out searches at 36 places in Salem,
amakkal, Karur, Chennai and Tiruchy districts. In the raid, foreign currency worth Rs 5.5 lakh, investment in domestic shares for Rs 25 crore and foreign shares valued at Rs 45 crore were identified. In a search conducted at a jewellery shop at Vazhapadi, 20 kg of gold ornaments and 280 kg of silver articles were found to be above the recorded stock.
During the raid, the officials had also found locker keys. On Monday, with the permission of court, the DVAC officials used the keys to open five lockers in cooperative banks and in a nationalized bank and verified the items including documents kept in the lockers.
Rs 45 cr worth foreign shares were identified in the DVAC’s raids at 36 places. Foreign currency worth Rs 5.5 lakh, domestic share of Rs 25 cr was also identified
280 kg of silver articles were found during the raids conducted in a jewellery shop at Vazhapadi. Gold ornaments weighing 20 kg were also found