Tolivelugu Crime Bureau: Hyderabad real estate companies have been facing the wrath of IT. 50 teams conducted searches on four companies simultaneously from Tuesday morning. It is known that the IT raids were carried out on the allegations of the huge amounts of black money with the litigation lands. IT officials are conducting searches at Vasudha Pharma Chemicals in Jeedimetla. Along with the pharma business under the name of Vasudha Pharma Chemicals, the directors are doing real estate business under the same name. Searches are being conducted in the houses of Venkataraju Kalanidhi, Anand Manthena, Madhusudhan Raju Manthena, Varalakshmi, Srihari Varma Kothapally, and Padmanabhuni Venkata Appaji. IT officials are conducting searches as there is firm information that director Raju is doing real business in the name of Vasudha Pharma. It is reported that about 15 companies are doing real business. The IT officers are conducting searches in the offices, directors’ houses, and the houses of the chief officers of this pharma company.
Vasudha Pharma Chemicals Company is located at Jeedimetar in the city. This company was established in 1994. This company manufactures various types of medicines. It is exporting to the country and abroad. This business, which started with 0.25 million dollars in 1997-98, has reached 145 million dollars by the financial year 2020-21. According to the profile of Vasudha Pharma Chemicals Company, 113 scientists are working in this company. However, it is known that the land has been given to the respective real estate companies for development. It is reported that there is a huge circulation of black money.
Searches in Vertex, Muppa, Rajapushpa.
Established in 1994, Vertex Homes was incorporated as a company in 2000. Verma, who came as a nobody has created a real estate empire of one thousand crores in 20 years. Staying close to political leaders he has been buying land and constructing buildings. It is known that after the formation of Telangana, a huge investment was made in litigation lands. Those projects were put on the rails. As a result, IT officials have investigated that the turnover is more black money than white money. V. The Income Tax Department seized the key files from the private offices of Venkata Narayana Verma, Murali Mohan Chakkaguru, and Prasanna Lakshmi Chakka.
Attacks on sources!
Muppa Alankrita, Orange Country, Orange Vistas, Orange Meadows, Lahari Green Park, Green Field, and Muppa Panchvati Town have undertaken the construction of apartments. A huge project called Muppas Melody has been launched in Telapur Usman Nagar. Searches are being conducted at the houses of Vishnu Vardhan Muppa, Sandeep Vardhan Muppa, Venkaiah Muppa, Rajni Devi Muppa, Bhaskar Rao Muppa, Jayashree Muppa, and Muppa Ashok Vardhan. The houses of their relatives were ransacked.
Focus on Rajapushpa!
The Income Tax Department has been targeting Rajapushpa Properties Private Limited, a company belonging to the family of former Siddipet Collector Venkat Ramireddy. The plot was received in connection with the purchase of Kokapet land. The attacks took place right after the former collector took oath as MLC. After that, IT kept vigil during his daughter’s wedding. It is reliable information that Bikkubikkumani did not get married after receiving information that there were chances of attacks on the wedding. It is known that the GST files filed by the company have been wrestled with for years and raids have been conducted along with the evidence. MLC Venkat Ramireddy’s brother Jayachandra Reddy Parupathi, Srinivas Reddy, Mahender Reddy, Charan Raj Reddy, and Sujith Reddy’s houses were searched. Their family members are Rajapushpa Primes, Rajapushpa Cements Limited, Rajapushpa Trust Nest Realty, Rajapuppa Estate, Rajapushpa Corporate Pvt Ltd, Rajapushpa Asset Management LLP Rajapushpa Land Mark, along with four other companies, Stratakacharam Laboratories, Acumeds Pharmacet are said to be involved in transactions.