Assets worth 162 crores found in raids on minister Ramesh Jarkiholi (in pic), Congress women's wing head

Highlights Tax raids on Karnataka minister and head of Congress women's wing

Unexplained assets worth 162 crores, 41 lakhs in cash found: tax officers

Political vendetta, says Congress, won't take action for now

A Congress minister in Karnataka and another senior party official have not been able to explain assets worth nearly 162 crores, according to tax officials. 41 lakhs in cash and 12 kilos of gold and jewels were recovered from searches last week at the homes and offices of minister Ramesh Jarkiholi and Laxmi Hebbalkar, who heads the Women's Wing of the Congress.The raids in the state capital of Bengaluru, Belgaum and Gokak, nearly 500 km away, followed allegations of tax evasion. "The searches led to the admission of undisclosed income of Rs 162.06 crore and unexplained cash amounting to Rs. 41 lakh," said a press release from tax officials, which did not name the politicians.Chief Minister Siddaramaiah said he was not aware of details, stating "The IT (income tax) department does not keep me informed about raids." But his party claimed that the raids - not denied by either politician involved - are a misuse of power by the BJP at the centre. "Unfortunately, Modi government is using CBI, ED, all institutions as a political weapon to destabilize Congress governments, the Congress agenda and defame their political opponent," said Dinesh Gundu Rao, working president of the Congress in the state. "The two leaders are not named in the IT release and there is a long procedure for the law, so no action will be taken against them for now," he added.The investigators, sources said, found "huge unexplained cash deposits" had been made in the bank accounts of the politicians' family members and associates, and in proxy-owned businesses that dealt with sugar manufacturing.The Jarkiholi brothers, four in all, have frequented the Karnataka cabinet as ministers from both the Congress and the BJP and are considered powerful in their home district of Belagavi. They are hugely wealthy - rich with money from sugar - and the brother involved in this case - a four-time state legislator - is considered close to the Chief Minister."I think it is a telling comment on a cabinet led by a Chief Minister who professes that he is a socialist. It is a shocking thing that a cabinet minister's house has been raided," said BJP leader Suresh Kumar to NDTV.

One man who knows a lot about corruption, having fought it for years, is former Karnataka lokayukta or ombudsman, Justice Santosh Hegde. He told NDTV,"I blame the society in which we live, which does not boycott the corrupt. 162 crores worth of assets - where did they get it from? In the recent demonetisation (drive), another class of people who are involved in corruption has come to light - managers of banks...Where are we heading?"The Congress in Karnataka may like to present the raids as political vendetta, pressure from the central government, but the fact remains it is a huge embarrassment from the ruling party.