I-T Raids At Premises Of Vamsiram Builders in Hyderabad, Vijayawada

Following accusations of possible tax evasion, officials were scrutinising records.

Representational Image

Source : ABP Desam

The Income Tax department on Tuesday conducted simultaneous raids at the offices and premises of real estate group Vamsiram Builders and Developers Private Limited in Hyderabad and Vijayawada. Several teams of I-T officials began the searches at the residences and offices of the CEO, managing director, directors, partners, and investors early Tuesday.

Following accusations of possible tax evasion, officials were scrutinising records. Personnel of the Central Reserve Police Force (CRPF) were also deployed to protect the I-T officials. The searches are likely to continue throughout the day and may even extend to Wednesday.

The officials of the Income Tax Department are also searching the premises of two YSRCP Gannavaram MLAs Vallabhaneni Vamsi and YSRCP youth leader Devineni Avinash. The I-T department is reportedly looking to ascertain the Andhra Pradesh ruling party leaders' investments in the group.

The I-T searches were conducted under the security of a large posse of police officers deployed in these areas.

Earlier, Income Tax officials conducted searches at the residence of Telangana Minister Malla Reddy in Hyderabad. Besides Malla Reddy, IT raids are conducted at the properties related to his son Mahender Reddy and his son-in-law Rajsekhar Reddy.

Overall, 50 teams carried out searches across the state with the help of central paramilitary forces. Minister Malla Reddy, who runs several educational institutes is the Telangana Labour Minister.

"People are watching what is happening. Instead of politically facing its opponents, the central government is using the institutions under its control to scare them. We are not the ones to get scared," he said while reacting to IT raids on Malla Reddy and his family members.

"If IT and ED raids happen in a normal course, we don't find any fault, but these raids are happening to targets." We had anticipated these raids. The chief minister already spoke about this," he said.

(With inputs from ABP Desam — It is a Telugu platform of ABP News. For more news, commentary and latest happenings from two Telugu states, follow https://telugu.abplive.com/)