Taxmen Find More Bizmen with Ranjit Reddy’s Nexus

Hyderabad: Focusing on Congress leader and former Chevella MP Gaddam Ranjit Reddy's business activities and regular financial transactions, the income-tax (IT) department officials continued searches at his residence and offices in Hyderabad for the second consecutive day on Wednesday.

During the verification of documents, the IT officials reportedly obtained additional details about other businessmen and their nexus with Ranjit Reddy, particularly regarding new business activities in Hyderabad, Bengaluru, and Chennai.

A team of IT officials, who had been working continuously for 45 hours in shifts since Tuesday morning, took one of the family members to the bank, where they verified bank transactions and lockers registered in the names of Ranjit Reddy's family members. Although the IT officials did not confirm this, reports suggested that documents related to immovable properties and gold-studded diamonds were found in the lockers.

Hours after verifying several banks and their lockers, the I-T officials returned to Ranjit Reddy's residence and resumed inquiries into his business activities, sources of income, investments, returns, and borrowings from banks and other institutions. They also scrutinised the Income Tax Returns (ITRs) of Ranjit Reddy and his family members, who are directors, partners, or managing partners in several business firms.

During the search operation, the I-T officials also found links to another businessman, SR Group’s managing director Anagudula Tirupati Reddy, and initiated fresh searches at his offices in and around Hyderabad on Tuesday.

Tirupati Reddy is associated with several firms, including DSR SR Prime Spaces LLP, SRJ Prime Spaces LLP, Sri Rajeswari Farms Private Limited, Rohini Minerals Private Limited, SR Starch and Allied Products Private Limited, Tirumala Agritech Private Limited, Sri Rajeswara Polymers Private Limited, Rohini Ispat (India) Private Limited, Sri Rajeswara Aviation Private Limited, and others.

In DSR SR Prime Spaces LLP, Congress leader Ranjit Reddy has been a partner since 2019, while his family member G. Seetha Reddy is also among the partners, along with Anagudula Manjula Reddy, Sudhakar Reddy Devireddy, and Prabhakar Reddy Devireddy. It was also reported that the I-T officials are likely to explore possible links to the Andhra Pradesh liquor scam, suspecting cash transactions.