Tirunelveli: The Seyadu group of companies that came under IT raids on Thursday is a pioneer group that introduced the Indian cigarette smoker to a distinct and different taste and flavour in beedis in the early 1940s', well before the country's Independence.
Originally having its birth in Sri Lanka, where the founder of the beedi
company, T.E. Seyadu Rowther went to eke out his living, the enterprise was launched in Tamil Nadu at Seyadu Rowther’s small ancestral house at Sindupoonthurai in Tirunelveli 75 years ago.
“Then Rowther himself came to our doorstep and taught beedi rolling,” said the 82-year-old Paramakalyani of Sindupoonthurai. T.E. Seyadu Rowther himself was said to roll beedis that were sold in the local area without any label. It was during the same period another popular beedi, ‘Sokkalal beedi’ was launched by Sokalal in the same district. Functioning as a cottage industry since 1942 Seyadu Beedi Company was incorporated as ‘Seyad Home Industries Private Limited’ only on October 24, 2002.
“Since then, it entered into beedi exporting trade,” says Chidambaram, a retired employee of Seyadu beedi company in Mukkudal. “They are producing super special beedis packed like cigarettes in attractive packets for the overseas market,” said Chidambaram, adding, the group expanded itself and set its foot in diversified fields like non-banking finance, education, textile mills, wind farms, agro products and garment manufacturing.
Seyad Shariat Finance limited claimed to have been started to adopt interest-free economic system, as said in the Quran to help maintain a social equilibrium. However, it was not so in reality, complained a beedi worker, who said that the major deposits for the ‘Seyad Shariat Finance company’ was of the poor beedi workers, from whose weekly salary an installment for the deposit was compulsorily deducted.
The general secretary of Tamil Nadu Beedi Workers’ Federation, R. Mohan added that the company gave an interest of '1.60 for a deposit of '1,000 to the beedi rollers, however collected an interest of '2.60 if the same worker took loans from the finance company. Similarly the company also faced complaints of having compelled its workers deposit the housing assistance of '40,000 given by the Central government at the Shariat Finance.
Thus, starting as a small cottage industry in a remote corner of Tirunelveli district, the beedi manufacturers now have in their portfolio, Seyad Home Publishers, Seyad Hill View nursery and primary chool, Seyad residential school, Seyad cotton mills, Moon Spinners, Seyad wind farms, Seyad Agro Investment private limited and Fay Walk Garments.
The IT officials raided the offices of all these group companies and at the residences of the six directors including the founders’ sons, Fathurabbani Sadiq and Naina Mohammed Seyad Abdul Kareem in Tirunelveli on Wednesday. Around 40 officials led by the deputy commissioner of I-T department, S. Michael Jerald conducted the raids simultaneously at 15 places since 7 am, top sources told DC.
