After the Narada, Saradha and Rose Valley chit fund scams, Mamata Banerjee led Trinamool Congress is now embroiled in another financial mess. The income tax department has sent a notice to TMC demanding an explanation on unaccounted poll expenses totaling nearly Rs 24 crores. The first and the biggest chunk of the expense of more than 15 crores was for hiring helicopters in 11 instances for Mamata Banerjee before the last Lok Sabha elections. TMC failed to account for the expense as poll expense and has not been able to provide information on the source of funds.
The second instance of hiding poll expenses is related to the massive public relations exercise undertaken in Haryana and Punjab through newspaper advertisements worth 3.4 crores. Another 4.4 crores are unaccounted for expenses made for public rallies of which more than 2 crores were spent for buying party flags.
The smallest but the most incriminating part is the benami cash deposits of Rs 88 lakhs. In 2012 TMC opened a bank account in Panchkula in Haryana and within 2 weeks cash deposits worth 88 lakhs were made to this account. This has definitely drawn attention of tax authorities.
These financial discrepancies perhaps explain the TMCs aggressive protests against the Demonetization drive.
Posted On : 07-Jun-2017