HYDERABAD: Sleuths of the income-tax department on Tuesday morning conducted searches YSR Congress Rajya Sabha MP
Alla Ayodha Rami
Reddy's properties in Hyderabad. Searches are being conducted at 15 premises, primarily located in CEO
Enclave Gachibowli
in the city.
Sources in the income-tax department said that the raids were being carried out to check whether the losses shown by the group companies of Ramky were genuine or not.
"We are verifying the genuineness of losses shown by the Ramky group companies linked to Ayodhya Rami Reddy's family. There are hundreds of transactions between the companies of the group," said a source in
Income Tax department.
Ramky Infrastructure
,
Ramky Enviroengineers
are the two flagship companies of the group. Ayodhya Rami Reddy is not a director of any of these companies currently.
Sudhakar Reddy Udumula is the Editor (Investigation) at the Times...
Read MoreSudhakar Reddy Udumula is the Editor (Investigation) at the Times of India, Hyderabad. Following the trail of migration and drought across the rustic landscape of Andhra Pradesh and Telangana, Sudhakar reported extensively on government apathy, divisive politics, systemic gender discrimination, agrarian crisis and the will to survive great odds. His curiosity for peeking behind the curtain triumphed over the criminal agenda of many scamsters in the highest political and corporate circles, making way for breaking stories such as Panama Papers Scam, Telgi Stamp Paper Scam, and many others. His versatility in reporting extended to red corridors of left-wing extremism where the lives of security forces and the locals in Maoist-affected areas were key points of investigation. His knack for detail provided crucial evidence of involvement from overseas in terrorist bombings in Hyderabad.
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