Hyderabad: The IT raids on the properties of multi-millionaire Megha Krishna Reddy from the last four days has shaken the respective industry giants. Like never before, the Income-tax department has conducted the flash raids on 35 of Megha’s properties and the searches are still going on by the deployed team of almost 78 officials form State and 20 from Delhi under the surveillance of CRPF. The ToliVelugu team managed to get exclusive information about the data and documents that reportedly triggered further investigation.
The most crucial documents unveiled Megha Krishna Reddy and his family’s 50 per cent stake in Olectra Greentech, an electric bus manufacturer company. The documents also revealed that the industry giant has bagged some crores of subsidy from the state and central governments under the mask of electric buses purchases. The IT officials reportedly acquired the data regarding the recent illegal transactions and purchases made by Megha and his family. Info is that a total of Rs 110 crores worth gold and diamond jewellery has been recovered so far and the officials are carrying out further searches with the links found. The officials have admitted that they found a number of fake documents and bills. Considering all these, speculations are rife that Megha Krishna Reddy will be soon jailed any time soon!