IT raids in three infra groups in Andhra and Telangana: 2000 crore scam exposed

Hyderabad, Ta. February 14, 2020, Friday

The Income Tax Department has today made a shocking claim on raids conducted in 40 places simultaneously in Hyderabad on February 6. The Income Tax department raided three important infrastructure groups in Vijayawada, Kadapa, Visakhapatnam, Delhi and Pune. The group is active in Andhra Pradesh and Telangana.

Besides, former Andhra chief minister N Chandrababu Naidu and former personal secretary P Srinivas Rao were also attacked. The Income Tax Department claims that it has exposed a large group of cash-traffickers through fake subcontracts, bogus bills.

According to the Income Tax Department, during the raids, a number of defamatory documents, e-mails, WhatsApp messages were also seized along with illegal foreign transactions. Former personal secretary P Srinivas Rao of Chandrababu Naidu also raided Vijayawada and Hyderabad-based areas.

According to the Central Agency, catastrophic evidence was seized from Rao during the investigation. During the raids it was found out that the infrastructure companies had acted as subcontracting some fake companies.

According to a preliminary inquiry, the bogus transaction involved a fraud of Rs 2000 crore. An amount of Rs 85 lakh in cash and Rs 71 lakh in jewelry has also been seized.

In addition, more than 25 bank lockers were also seized. On February 6, the Income Tax Department raided the TDP district chiefs of Kadapa, Srinivas Reddy alias Vasu and former secretary of Naidu P Srinivas Rao's Vijayawada and Hyderabad complexes. Naidu's party TDP has come backfoot after the Rs 2000 crore scandal surfaced.

The YSR Congress has repeatedly alleged that there was widespread corruption when the TDP was a government. On the other hand, the TDP rejected the allegations of the ruling party and showed them politically motivated. The TDP said in a statement that the infrastructure companies were not affiliated with the party and would give Rs 85 lakh to the ex-secretary of Naidu who will give the account to the income tax department.