Non-transfer of shares Sasikala benami transaction proof: I-T

Former chief minister J Jayalalithaa’s confidante V K Sasikala paid Rs 148 crore to Puducherry-based Naveen Baalaji and his family members for the purchase of their assets, but did not actually transfer the company shares, confirming that it was a benami transaction, the income tax department told the Madras high court on Wednesday.

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