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US bond case: I haven't committed any offence, says TN businessman

Last Updated: Saturday, January 5, 2013 - 19:13

Chennai: As Tax authorities were trying to establish the genuineness of international bills of exchange with a face value of USD five billion, the Tamil Nadu businessman, from whose house they were seized, Saturday said he has not committed any offence in the creation of wealth.

"I have not earned a pie by any wrong means. You will come to know after the enquiry. That is the truth...", Ramalingam, a groundnut trader, told Sun news channel, a day after he was grilled by Income Tax authorities.

Ramalingam, whose residence was raided last week by tax sleuths who seized the documents with a face value of USD five billion (Rs 27,000 crore), said he had given complete information to the authorities.

"I have explained to them on the genuineness of the documents. I hope they will accept it after the enquiry is over", he said.

Ramalingam was interrogated the whole-day yesterday by income tax officials, who said it would take at least a week to ascertain the genuineness of the documents seized.

S Murali Mohan, Additional Director, Income Tax (Investigation), said they were verifying the authenticity of the documents with US authorities through the government.

Ramalingam claimed that as far as he was concerned, the documents were "genuine". "After the enquiry, all the truth will come out", he said to a query.

Noting that he had made 20 trips abroad and developed 'genuine' contacts, he said he had no links with any politician.

Admitting that he had not filed tax returns for the last four years, he said this was because he could not get the TDS certificate from the oil company which had been operating on the land owned by him in Dharapuram.

Ramalingam said he has been nurturing an ambition from 2007 to set up an oil refinery at Thondi in Ramanathapuram district and provide one million jobs to the locals.

He said if the government allows the project, he would like to provide free education, accommodation to 10 lakh people in the next five to 10 years.

Asked whether he would be the richest man, Ramalingam said "I have no such impression."


First Published: Saturday, January 5, 2013 - 19:10
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