The Enforcement Directorate (ED) has intensified its investigation into a suspected ₹1,000 crore money laundering case involving the Tamil Nadu State Marketing Corporation (TASMAC).

On Saturday, TASMAC Managing Director S. Visakan, an IAS officer, was brought in for the second consecutive day of questioning at the ED’s Nungambakkam office, following extensive searches at his Manapakkam residence.

The ED’s probe, initiated under the Prevention of Money Laundering Act (PMLA), stems from allegations of significant financial irregularities within TASMAC. Investigations suggest that between 2016 and 2021, illicit profits were generated through inflated pricing of liquor bottles, leading to substantial unaccounted cash flows.

On Friday, ED officials conducted raids at approximately 10 locations across Chennai, including the residences and offices of individuals linked to TASMAC operations. Notably, the premises of film producer Akash Baskaran of Dawn Pictures were also searched, although his connection to the case has not been officially disclosed.

Despite previous summonses issued to Visakan, he had not appeared for questioning, prompting the ED to detain him for interrogation. His wife was also taken for questioning but was released later that evening.

TASMAC, established in 1983, is a state-owned enterprise responsible for the wholesale and retail distribution of Indian Made Foreign Liquor (IMFL) and beer across Tamil Nadu. With 43 depots and nearly 5,000 retail outlets, it holds a monopoly over liquor sales in the state.
dtnext

The ED’s ongoing investigation aims to uncover the depth of the alleged financial misconduct and identify all individuals involved in the purported scam. Further developments are awaited as the probe continues.
@@@@