Representational picture
Representational picture
Hyderabad: The Income Tax department on Tuesday carried out searches at the properties of Vasudha Pharma Chemical Limited in Telangana and also Andhra Pradesh.
Teams of IT authorities carried out synchronised searches at 50 places in Hyderabad and also in adjoining Andhra Pradesh.
The groups started the searches early in the early morning at business head office at SR Nagar inHyderabad The searches were additionally on at the properties of Vasudha and also sibling business at Madhapur, Jeedimetla and also various other locations.
The I-T authorities were additionally performing the searches at the houses of the business’s CEO, MD and also supervisors
The authorities were inspecting the documents associating with the business’s revenue and also the purchases with others. The raids came adhering to accusations that the funds were being drawn away to real estate organization.
Some companies apparently pertaining to Vasudha are claimed to be associated with the real estate organization. This apparently emerged throughout current raids by the I-T authorities on some real estate business.
The properties of Vasudha Chairman and also Managing Director M. Venkata Rama Raju, supervisors M. Anand, MVN Madhusugan Raju, Prasad Raju were being looked as component of the I-T raids
