The income-tax department (I-T) has decided to auction late actress Srividya's property in Chennai on March 26 to recover her pending I-T liabilities. The actress' apartment is in Abhiramapuram in the capital of Tamil Nadu.
The I-T department is planning to auction the apartment at a base price of Rs 1.14 crore, The Times of India reported. At present, the flat has been rented out to an advocate by the department.
"Her tax liabilities will have to be settled first and also the bank liabilities on her residence in the capital (Thiruvananthapuram) will also have to be settled before selling it in auction," Ganesh Kumar, who is the executor of Srividya's will told The Times of India. "We will approach the high court after that with a proposal to hand over the revenue from the auction to Gandhi Bhavan and Snehabhavan equally, the two institutions that work for the destitute and the mentally unstable," he added.
Before her death in 2006, Srividya, in her will, had entrusted actor and Kerala legislator K B Ganesh Kumar to register a charitable society to support the talented singers and dancers coming from the economically weak background. Further, she wanted the funds to be utilized to help the ailing and deserving artistes.
As per her will, Srividya Charitable Society was formed along with a dance school at her residence.
However, the process of executing the will was not smooth as there were several allegations of misappropriation of funds by Ganesh Kumar. It forced him to move the Kerala High Court in 2016, stating that he could not look after the charitable society and wanted the state government to take over the assets of the late actress.
Daughter of eminent Carnatic singer ML Vasanthakumari, and Tamil actor 'Vikadam' Krishnamoorthy, Srividya started acting at the age of 13 and in a career spanning over three decades, she worked in six languages. The actress married producer George Thomas 1976 but the relationship didn't last long. It may be recalled that she also had a property dispute with him. The actress passed away in 2006 following a prolonged illness at the age of 53.