Hyderabad: Officials from the Income-tax (I-T) department conducted raids on BRS leaders for the second consecutive day at different places in Hyderabad and Telangana on Thursday.
During the two-day searches, the officials verified lockers, current accounts, their transactions, investments into several businesses and sources of income, and their IT returns (ITRs) for the past few years.
Agency officials suspect that Medak MP Kotha Prabhakar Reddy, Nagarkurnool MLA Marri Janardhan Reddy, and Bhongir MLA P Sekhar Reddy had combined businesses by investing in real estate and other businesses. The officials took Sekhar Reddy's wife to the bank in LB Nagar and opened lockers to verify them. It was reported that some property documents have been recovered.
By around 10.30 am, they completed raids on the residence of Prabhakar Reddy in Kondapur and served a notice asking the MP and others to appear before the agency for further questioning. The officials also asked the Medak MP to furnish documents while appearing before the agency.
They conducted raids on Sekhar Reddy and Janardhan Reddy’s properties in Hyderabad, Nagarkurnool, and other places. There were similar raids at JC Brothers stores in the city, JC Brother Spinning Mills, JC Brother Holdings, and pipe manufacturing units in the state. It was also found that Sekhar Reddy and Janardhan Reddy's family members hold positions in the same companies in the city.
Janardhan Reddy responded to the ongoing I-T raids on his premises and his business premises saying that he has been doing several businesses for the past few years and he had filed ITRs as per law.
“We have paid ₹200 crore as income-tax for my business activities. There is nothing wrong or illegal about my transactions," he said.
