Income tax dept raids Faris Abubacker’s residence, offices

Biju Pankaj / Mathrubhumi News 

Faris Abubacker's house, Faris Abubacker | Photo: Screengrab/Mathrubhumi News

Kochi: The income tax department has conducted raids at houses and offices of controversial industrialist Faris Abubacker in connection with black money investments in real estate transactions. The raids were carried out simultaneously in Kochi, Kozhikode and in Chennai.

According to sources close to the income tax department, Faris Abubacker is being subjected to the probe over his political links and real estate - black money transactions. The raids, led by officials in Kochi and Chennai, began around 8 am on Monday and are underway even in Mumbai and Delhi.

The income tax department has identified a total of 92 real estate companies belonging to Abubacker, who has land deals in various places in the name of these companies. Meanwhile, there is ambiguity over the investors in the companies, which are headquartered in Chennai.

Apparently, the income tax officials also suspect political investment in the companies. Initially, they had found an investment of around Rs 100 crores of black money. Following this, the raids were carried out.

As per latest reports, Abubacker, who is currently in London, has been summoned by the income tax authorities. Earlier, he had been in the limelight in relation to controversies surrounding CPM and his links with party leaders.

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