Hyderabad, Aug 19 The Income Tax Department on Tuesday carried out raids at the premises of Congress leader and former MP G. Ranjith Reddy and DSR Group of companies.
Simultaneous searches were conducted at about 30 locations in Hyderabad and Bengaluru since early Tuesday as part of the probe into allegations of tax evasion.
The I-T sleuths conducted searches at the DSR Group headquarters in Jubilee Hills in Hyderabad. The raids were also conducted at several prime locations in Hyderabad and its surroundings, including Banjara Hills, SR Nagar and Suraram, sources said.
The searches were conducted at the premises of DSR Infrastructure Pvt Ltd, DSR Infra Projects, DSR Constructions, DSR Prime Spaces and DSR Infra Developers.
The I-T officials also conducted searches at the premises of DSR Group's Managing Directors Devireddy Sudhakar Reddy, Executive Director Devireddy Prabhakar Reddy and others.
The officials reportedly seized documents, account books and some devices as part of the investigation into alleged concealed income and irregularities in property transactions.
The I-T officials conducted searches at the residence and office of Ranjith Reddy. The searches were conducted amid tight security.
A former MP from Chevella constituency, Ranjith Reddy, reportedly has links with DSR Group, which is in the real estate business. He reportedly has financial dealings with DSR Prime Spaces, DSR Infra Developers and other companies of the group.
Ranjith Reddy was elected to the Lok Sabha from Chevella on Bharat Rashtra Samithi (BRS) ticket in 2019. He quit the party to join Congress just before last year's Lok Sabha elections. He contested the elections as a Congress candidate but could not retain the seat.
With declared assets of Rs 435 crore in his election affidavit, Ranjith Reddy was one of the richest MPs.
Established in 1988, DSR Group is one of the top builders in South India with presence in Bengaluru, Hyderabad and Chennai.
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