Hyderabad: Megha Krishna Reddy’s properties are now under the swift raids of Income tax department from 12 in the midnight. The Income Tax (IT) Department conducted raids at premises linked to Megha Krishna Reddy who is known to be a close ally to both the Telugu states’ governments. According to the reliable information, nearly 35 Megha’s owned premises are being covered in the raids by various teams of officials and police personnel. The teams are undertaking the searches at various company-owned offices including Krishna Reddy’s personal office, and at the houses of his close ones.
Reliable sources revealed that the raids are being held by the IT officials are from New Delhi. The teams are said to be gathering crucial clues and information regarding the tax evasion and various ‘Benami’ properties Megha owned. In an unofficial statement, officials said that they have found bundles of fake bills and key documents regarding the major projects MEIL had taken up.
MEIL played a crucial role in Kaleshwaram project which was taken up on a prestigious note by KCR’s government with a whopping budget of Rs 80,000 crores. The company has also bagged the Polavaram project recently. MEIL has been facing serious allegations regarding the corruption in Polavaram and Pallamuru-Rangareddy projects which pushed KCR and his government into the fit. The company was also accused of buying and operating electric buses at RTC.