On Friday, October 22, the Directorate of Vigilance and Anti-Corruption (DVAC) registered a disproportionate assets case against R Elangovan (57) and his son E Praveen Kumar (27), by DVAC officials at 17 locations in Salem, Namakkal, including their residence. And searches are being conducted at two places in Chennai districts and four places in Trichy districts and a few places outside Tamil Nadu. The First Information Report (FIR) registered against Elangovan and his son mentions that searches were being conducted to trace the accumulated assets from April 1, 2014 to March 31, 2020.
Elangovan was elected twice as the chairman of the Tamil Nadu State Apex Cooperative Bank and the chairman of the Salem District Central Cooperative Bank twice in 2013 and 2018. Praveen is the vice-chairman of the Swami Ayyappan Educational Trust in Salem district. "During the Czech period (April, 2014 to March, 2020), due to his official position and close ties with top politicians, Elangovan enriched himself illegally and in possession of economic resources and assets disproportionate to his known sources of income. was in," the FIR states.
Giving details of the alleged disproportionate assets, the FIR states that the potential savings of Elangovan and his family during this period should not exceed Rs 1,52,65,540. However, the family had amassed assets worth Rs 3,78,31,755, which is 131% of their total income. Subsequently, the DVAC suspected that both Elangovan and his son had allegedly amassed more assets and kept them in the name of benami at various places within and outside Tamil Nadu. Besides, there is information that he has allegedly invested huge amount of money illegally on colleges and institutions run by Swami Ayyappan Educational Trust in Trichy district, the FIR claimed.
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