Tax Officials Raid Ranjit Reddy and DSR Offices for Evasion
The operations, which began around 5 a.m. under CRPF security, are still underway.
Hyderabad: Suspecting links to the AP liquor scam transactions, income-tax (IT) officials on Tuesday raided more than 20 locations in Hyderabad, Bengaluru, and Chennai, including the offices of the DSR Group of Companies and Congress leader and former MP G. Ranjith Reddy in Hyderabad.
Initially, the raids were carried out on suspicion of tax evasion during the filing of income-tax returns (ITRs) of certain construction companies. However, raids reportedly turned out to be linked to the alleged money transactions in the AP liquor scam.
Around 6 am on Tuesday, at least 20 teams of the I-T department raided the DSR group office located at Jubilee Hills, Hyderabad, as well as premises in Bengaluru and Chennai, including the office of former MP Ranjith Reddy, for alleged financial irregularities.
Ranjith Reddy, who was the BRS Chevella MP, joined the Congress and contested from the same seat last year but was defeated. He is considered one of the richest MPs, with business interests in real estate and other sectors.
I-T officials scrutinised his ITRs, bank accounts, and records related to his business activities.
Similarly, raids were carried out at the residence of DSR Infrastructure managing director Devireddy Sudhakar Reddy and the offices of executive director Devireddy Prabhakar Reddy in Hyderabad and Bengaluru, focusing on the companies’ financial transactions.
While investigating suspected tax evasion, I-T officials reportedly inquired into alleged cash transactions in the real estate sector. They also suspected links to Srinivasa Constructions. Venkata Krishna Reddy, one of the suspects in the AP liquor scam cash transactions, is believed to have had financial dealings with these companies.
The DSR Group has ongoing and past residential and commercial projects in Hyderabad, Bengaluru, Chennai, and Nellore. It was reported that the I-T officials directed the DSR Group, Ranjith Reddy, and others to submit audit reports of their registered firms for verification.