Hyderabad: Ex-minister Sridhar Babu accused of tax evasion

Hyderabad: The two were bitter rivals in the Manthani Assembly constituency and Mr Madhukar lost to Mr Babu in the recent elections.

Mr Madhukar said,  “While Sridhar Babu was a minister, he was involved in illegal sale of teak and rosewood and amassed tremendous amounts of wealth.”

He claims that one Edla Srinivas is a benami for Mr Babu. “Many properties, especially the non-agricultural land located along the main road of the Mathani constituency is registered under Edla Srinivas. The total value of the property purchased by Sridhar Babu (in the name of the benami) as per government rates is Rs 1.54 crore but the prime piece of land was bought at a throwaway price of Rs 23 lakh. There are several other properties registered under such benamis.”

He also sought to audit the 20 years of income-tax returns of Mr Babu. He claimed that last year, through his benami, Mr Babu allegedly purchased 10 acres and 18 guntas in Survey No 1518 of Mathani village, at the rate of Rs 44 lakh per acre.