I-T recovers Rs 7.5 cr in raids of Sabitha Indra Reddy's associates


Income tax (I-T) officials in raids on minister Sabitha Indra Reddy’s associates and relatives on Tuesday and Wednesday recovered Rs 7.5 crore cash, which was allegedly set to be distributed to voters for the upcoming polls.

The money was recovered in raids on realtor Pradeep Reddy and Dr Reddy’s employee K. Narender Reddy over the past three days. Sources said I-T officials verified documents, bank accounts, I-T returns and business activities of Pradeep Reddy, concluding that the money was unaccounted for.

Further, I-T officials suspect Pradeep Reddy was benami for multiple political leaders. They closely monitored his business transactions and real estate financial activities, verifying the purchase of properties and transfers of amounts to sellers.

I-T officials also collected financial details and I-T returns of Narender Reddy and verified the transactions.

( Source : Deccan Chronicle. )
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