As per media reports, the cash was found after raids on Ashwathamma, her husband R Ambikapathy, their daughter and Ashwathamma's brother-in-law Pradeep in RT Nagar at midnight. Ashwathamma is the elder sister of former Congress MLA Akhand Srinivasamurthy.
In an unexpected incident, over rupees 42 crore in cash was recovered hidden in 22 boxes under a bed at a house in Bengaluru late last night. I has been reported that the cash was recovered following Income Tax raids on a former woman corporator and her husband.
As per media reports, the cash was found after raids on Ashwathamma, her husband R Ambikapathy, their daughter and Ashwathamma's brother-in-law Pradeep in RT Nagar at midnight. Ashwathamma is the elder sister of former Congress MLA Akhand Srinivasamurthy.
R Ambikapathy is known to be the vice-president of Bruhat Bengaluru Mahanagara Palike (BBMP) Contractors' Association which had blamed the erstwhile BJP government of taking 40 per cent commission on public projects.
It has been reported that the money was to be brought to Hyderabad via Chennai from Bengaluru. IT officials reportedly got a tip-off after which the raids were conducted over the last couple of days.
Following the incident, Telangana's Finance Minister Harish Rao has now established a lin between the seizures and election funding in his state.
According to the Bharat Rashtra Samithi leader, this enormous amount of money had been collected from builders, gold businesses and contractors in the name of Telangana tax and was part of ₹ 1,500 crore being sent in from the neighbouring state to fund the Congress election campaign in the state led by Chief Minister K Chandrashekar Rao.
"They are trying to pump money into Telangana to win the election here. They are even selling tickets. But they won't win here," Harish Rao alleged.
Telangana goes to the polls on November 30.