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    HomeHyderabadHyderabad witnesses ongoing IT raids for second consecutive day

    Hyderabad witnesses ongoing IT raids for second consecutive day

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    IT searches in Hyderabad are continuing for a second day. Many areas, including Ameerpet, Shamshabad, and Kukatpally, are being searched. In Ameerpet, IT officials are conducting searches on Pooja Krishna chit funds. The houses of director Sompalli Naga Rajeshwari, Poojalakshmi MD Krishna Prasad, and Raghuveer, the owner of a chit fund company in Shamshabad, are also being searched. The searches are focused on allegations of irregularities in income tax payments in chit fund finance institutions.

    On Thursday, IT officials divided into 100 teams and conducted searches at various companies and houses in Hyderabad. The searches mainly targeted chit fund and finance companies in areas such as Ameerpet, Kukatpally, Banjara Hills, Jubilee Hills, and Shamshabad. Poojakrishna Chit Fund in Ellareddyguda, Ameerpet, is being checked by 20 teams. Officials also raided the houses of Sompalli Naga Rajeshwari, Poojalakshmi, MD Krishnaprasad, and other directors of chit fund companies.

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    The residences of Jubilee Hills MLA Maganti Gopinath and his brothers in Kukatpally are being searched. IT raids are also taking place in Indu Fortune Fields Apartments in Housing Board 7th Phase. Inspections are being conducted at the residences of Arikepudi Koteswara Rao, the owner of a chit fund company, and Varaprasad, a railway contractor. The houses and offices of businessmen Prasad, Koteswara Rao, Maganti Vajranath, and Raghuveer are also being searched due to doubts regarding their IT returns over the last five years.

    In addition to Hyderabad, IT officials have also started searches in 70 parts of Tamil Nadu. 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 searches.

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