IT raid on Telangana Minister MallaReddy’s home continues for the second day
The IT raid on Telangana Minister Malla Reddy’s home is still ongoing on the second day. High-ranking officials searched the minister’s son, son-in-law, and other family members in various locations.
The Income Tax Department raided the houses and offices of Telangana Labor and Employment Minister Malla Reddy and his family members for the second day in a row. Authorities searched Malla Reddy group in multiple locations at the same time.
Almost 50 teams were searching in various locations throughout Hyderabad and the nearby Medchal Malkajgiri District.
More than 200 I-T officers from the tax evasion wing have been searching since yesterday. According to sources, the searches resulted in the seizure of Rs. 8 crores in liquid cash that was not in accounts, as well as some important documents.
The IT officials are expected to issue a notice with full details and a statement on the searches and seizures by Wednesday evening.
According to sources, raids were conducted on various institutions run by Malla Reddy and Group for alleged tax evasion. Malla Reddy Group is also facing allegations of improper allotment of convened allowance of seats in Malla Reddy Group Medchal. The IT department is investigating all different bank accounts that Malla Reddy Group has used for admission allocation.
The I-T department is searching the residences and offices of the ministers, his sons Mahendra Reddy and Bhadra Reddy, son-in-law M. Rajashekhar Redddy, and brother Gopal Reddy of the Malla Reddy Group and CMR Group.
According to sources, Malla Reddy and his family have been accused of investing large sums of money in real estate in recent years.
Malla Reddy, a Telangana Minister who owns and operates several professional colleges and institutions such as Malla Reddy University and Malla Reddy Groups, has stated that he has invested in a variety of businesses such as purchasing lands in various locations, malls, and petrol pumps.
Kalpana Malla Reddy, Kalpana Malla Reddy’s wife, is the vice president of Malla Reddy Educational Society, CMR Educational Society, ST Martin’s Educational Society, and Chandramma Educational Society, among others.