Thursday, July 25, 2024
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    HomeHyderabadHyderabad rattled by IT raids, as 100 teams take action

    Hyderabad rattled by IT raids, as 100 teams take action

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    IT officials in Hyderabad have conducted a large-scale search on Thursday morning. Divided into 100 teams, they targeted chit fund and finance companies in areas like Ameerpet, Kukatpally, Banjara Hills, Jubilee Hills, and Shamshabad. One of the companies being checked is Poojakrishna Chit Fund in Ameerpet, with the houses of its directors also being raided. In total, about 60 areas including Jeevanshakti Chitfund and Ecom Chitfund are being searched.

    Furthermore, the residences of Jubilee Hills BRS MLA Maganti Gopinath and his brothers in Kukatpally are also being raided, along with Indu Fortune Fields Apartments in Housing Board 7th Phase. Other individuals being targeted include the owner of a chit fund company, a railway contractor, and businessmen in Ellareddiguda and Shamshabad. These searches are being conducted due to suspicions about their IT returns over the past five years.

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    In Tamil Nadu, IT officials have started searches in 70 locations simultaneously. DMK MP Jagadrakshakan’s house and offices in Chennai, Vellore, Coimbatore, and Arakkonam are being searched. A total of 150 IT officials are involved in these operations.

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