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Cash flow into bank account nailed Jayalalithaa

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CHENNAI: Money poured like water into the bank accounts of deposed chief minister J Jayalalithaa and her friend N Sasikalaa during the AIADMK supremo's 1991-96 reign as Tamil Nadu chief minister, the special court in Bangalore which convicted them in the 66.65 crore disproportionate assets case has found.

Special court judge John Michael Cunha said: "The accused have failed to offer any satisfactory explanation as to the enormous unexplained credits entered into their bank accounts." They are proved to be false and bogus, he said adding: "It is undoubtedly established that even though many accounts were opened either in the names of the accused or in the names of firms or companies, the remittance into the accounts used to be made only by the staff of Jayalalithaa, as per the instructions of Sasikalaa, who was managing all the financial affairs of Jayalalithaa,". In this regard, the judge pointed out that remittances in these bank accounts were made by one Ram Vijayan and Jayaraman, staffs of Jayalalithaa working at her Poes Garden residence at that point of time. Quoting Jayaraman's evidence in court, the judge said, Ram Vijayan used to deposit the money given to them in banks. Sasikalaa used to send money either in suitcases or bags through domestic servants, instructing Vijayan about details of the bank where the money should

be deposited, he said

Jayaraman identified the bank challans and Vijayan's signatures, whereas bank officers examined in court confirmed 'unequivocally' the large number of pay-in slips bearing Vijayan's names, and identified him as the person remitting the amount.

The flow of money from one account to the other accounts would establish that all the accused persons had actively participated.

Noting that returns and balance sheet, and the profit and loss account of various companies, were manoeuvred "solely with a view to offer an explanation to the huge unexplained credits entered in their respective bank accounts," the judge concluded that the balance sheets and profit-loss account statements filed before income tax authorities had not been proved in accordance with law. "Mere declaration of property in the income tax returns does not amount to showing the same was acquired from known sources of income," he said, adding that the prosecution was able to show that there was no real source of income with the assesses and the public servant (Jayalalithaa) was the real source. It is proved in evidence that substantial funds accumulated by Jayalalithaa were credited to the account of Jaya Publications from where they were diverted to other accounts, and, ultimately, utilized for the acquisition of huge assets, he said.

Category: Bank

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