Traders alleges 30% business down due to EC's cash on hand clampdown

Expressing concern over the seizure of cash belonging to "traders and the public" across the State ahead of the Lok Sabha elections, traders' organisations called upon the Chief Electoral Officer (CEO) to give some relaxation. They alleged that the business has already come down by 30% due to the the EC's norms.

A M Vikramraja, president, Tamil Nadu Vanigar Sangakalin Perammaippu and others have met the State Chief Election Commissioner Praveen Kumar on Thursday and submitted their requests.

Speaking to reporters after meeting the CEC, Vikramraja said that traders, mostly the small and medium enterprises, have hit badly due to the seizure of cash. "We requested the EC to allow carry cash upto Rs 3 lakh without any documents. Already 30% of the volume is down due to the stringent measures".

RR Balasundharam, president, Indian Chamber of Commerce and Industry, Coimbatore told Media that there should be some clarity on the kind of documents to be produced for the poll flying squad members. The Chamber has said that it is also planning to take up the issue with the election commission and submit a petition on this.

On Thursday, CEO said that many teams such as Flying Squads, Static Surveillance Teams have been formed and those have till March 12, 2014 seized the amount of Rs 6.06 crore in cash and Sarees, Jewelleries and other non cash items worth Rs 42,50,010. The entire process of seizure have been video graphed .The seized cash and other items have been handed over to the Treasury and follow up action is being taken by the District Election Officers.

Earlier, CEO Praveen Kumar said that any cash without documents will be seized and as for monitoring cash transactions concerning self-help groups, he said that all banks had been advised generally to report to District Collectors any transaction involving transfer of money exceeding Rs 1 lakh. He also said authorities will release the seized if proper documents are submitted.