A CBI FIR filed in a bank fraud case alleged that VK Sasikala, the former aide of late Tamil Nadu CM J Jayalalithaa, paid ₹450 crore in old notes during demonetisation to buy a sugar mill in 2016. The purchase in question involves Padmaadevi Sugars Limited, whose directors are accused of defrauding the Indian Overseas Bank of approximately ₹120 crore.