Hyderabad: Interesting things are emerging as the Income-Tax department probes the case of Banapuram Laxman Rao who disclosed Rs 9,800 crore in black money under the Income Disclosure Scheme. It was later found that he had debts ranging from big amounts to paltry sums.
People who had lent money including one from Yalal in Ranga Reddy district came forward stating that he owes them Rs 177 crore. Even a mason claimed that he was in wait to be paid Rs 20,000.
A source in the Income-Tax department said, “He was actually running the show with loans.” Enquiries revealed that one of the sons of Mr Laxman Rao, Mr Banapuram Santosh, who is also a director of the companies, was an IIT Bombay product and he was the founding partner of a company called Hyderabad Goes Green.
The current partners of the company said he is no longer associated with the company which has now changed its name. Another son, Banapuram Pramod, founded a cafe called Paaka near University of Hyderabad which was shut down later. He is also not associated with the company before it was shut. I-T officials had on Tuesday searched the house of Mr Laxman Rao after sleuths got suspicious after verify the genuineness of his disclosure.
