The I-T department is probing the two for suspected tax evasion. According to sources, the suburban residence of Ramkrishna was searched and her statement recorded. These sources added the raids will continue for a few more days. An I-T spokesperson confirmed the raids to ET.
The department is also interested in one of the emails mentioned in Friday’s Sebi order of a purported visit to Seychelles, a tax haven with which India inked a treaty only in June 2016. “We want to know if this meeting indeed happened and it was predesigned to move assets to a tax haven with which India had no treaty at that point in time. This is one of the line of the probe,” added the official.
An I-T official privy to Thursday’s development said, “The decision was taken at the highest level and teams were pressed in since morning to carry out searches on premises linked to Ramakrishna.” The raids carried out by the Mumbai investigation wing of the department will continue for a few days.
“So far she has been cooperating and we are quizzing her. This will continue for a few days. The quantum of the tax evasion could be ascertained once we study the documents seized and electronic evidence gathered during the raids,” said another official privy to the probe. The focus of the probe is if Ramakrishna misused her position and parted sensitive information with an unknown person for any pecuniary benefits.
Messages sent to Ramakrishna didn’t elicit a response. Subramanian wasn’t reachable for a comment.
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