IT sleuths seize Rs 25 crore from businessman

Vijaywada: Income Tax officials raided the house of a businessman at Mangalagiri in Guntur district and seized cash of Rs 25 crore and documents related to valuables on Friday.

With elections scheduled on May 13 and electioneering in Andhra Pradesh concluding by 6:00 p.m. on Saturday, election authorities and various other agencies are keeping a close watch to check distribution of cash and offering of inducements to voters in an attempt to influence them.

Based on a tip off, IT sleuths raided the house of the Mangalagiri businessman and seized the cash as he did not have any documentary evidence on the source of the huge amount.