Kochi: IT raids at Sreevalsam Group owned by former cop, assets worth Rs 400 crore unearthed

A former additional superintendent of police in Nagaland, MK Rajendra Pillai, who has also been awarded the President's police medal in the past, is not in the news for a good reason this time. 

The intelligence and criminal investigation wing of the income tax (I-T) department in Kochi have brought to light unaccounted wealth worth Rs 400 crore from a firm called Sreevalsam Group which is owned by Pillai.

I-T sleuths had their suspects about Pillai after he had declared assets worth Rs 50 crore following the demonetization announcement. His net worth did not coincide with his known sources of income. 

An investigation is also being carried out to see whether politicians and bureaucrats in Nagaland were involved in his dealings and whether he illegally diverted government funds.

The raids conducted in Kerala, Karnataka, Nagaland and Delhi, brought to the fore dubious financial dealings by the group owned by Pillai.

Pillai retired as additional SP six years ago and is currently employed with Nagaland police as a consultant.

Nagaland DGP LL Doungel told TOI, "I am concerned. MKR Pillai is currently away on leave and will be back here next week. Let him come back and it will be better to gather from him whatever is there in the case."