New Delhi: Following the Income Tax raids held on October 9 on the premise of Siddhartha Medical College in Bengaluru, the I-T Department on Friday found incriminating evidence, including substantiating conversion of seats, commission payments to brokers, as well as the sale of seats in exchange of cash.

Also read: Siddaramaiah Slams I-T Raids on Premises of Karnataka’s Ex-deputy CM Over Medical College Irregularities

According to reports, over Rs. 4 crore has been recovered as unaccounted cash, while additional fixed deposits were found accounting to Rs. 4.6 crore under the names of eight employees of the business group.

Commissioner of Central Board of Direct Taxes (CBDT) stated, “A total of Rs.4.22 crore of unaccounted cash has so far been found including Rs.89 lakhs in the house of the main trustee. Fixed deposits amounting to Rs. 4.6 crore in the names of 8 employees has been seized.”

“Overall, total undisclosed income detected is around Rs.100 crores considering the cash donations received for 185 seats averaging Rs.50 lakhs to Rs.65 lakhs per seat and total seizure of undisclosed assets of Rs. 8.82 crores,” he said, adding that the I-T department is still conducting the investigation.

Incidentally, the college that is run by a trust related to Congress leader and former deputy CM of Karnataka G Parmeshwara came under the scanner after accusations were made alleging a multi-crore tax evasion case linked to NEET medical entrance exams. Over 30 places linked to the former deputy were searched in Bengaluru and Tumakuru in Karnataka.

Meanwhile, the Congress has accused the BJP of “politically motivated” powerplay and false accusations made only towards the rival party. It must be noted here that Congress leaders P Chidambaram, as well as DK Shivakumar also have been held under separate money laundering cases.