IT Raids Shakes Hyderabad: 100 Teams In Action 

Hyderabad, Oct 5 (Hydnow): The IT searches have created a stir in Hyderabad once again.  the IT officials were divided into 100 teams and searched many companies and houses in the city on Thursday morning.  

Searching on such a large scale at once became a discussion in political circles Chit fund and finance companies targeted searches are going on mainly targeting chit fund and finance companies.  Searches are going on in Ameerpet, Kukatpally, Banjara Hills, Jubilee Hills, and Shamshabad as well.  20 teams are checking Pooja Krishna Chit Fund at Ellareddyguda in Ameerpet. 

Officials also raided the houses of Sompalli Naga Rajeshwari, Poojalakshmi, and MD Krishna Prasad, who are its directors.  Also, searches are going on in about 60 areas including Jeevanshakti Chit Fund and e.Com Chitfund.  

Jubilee Hills MLA Maganti’s house-raided searches are being conducted at the residences of Jubilee Hills BRs MLA Maganti Gopinath and his brothers in Kukatpally.  IT raids are also going on in Indu Fortune Fields Apartments in the Housing Board 7th phase. 

Officials are conducting inspections at the residences of Arikepudi Koteswara Rao, the owner of a chit fund company, and Vara Prasad, a railway contractor.  Also, the houses and offices of businessmen Prasad, Koteswara Rao, Maganti Vajranath, a businessman in Ellareddiguda, and Raghuveer, the manager of an e-com company in Shamshabad, are being searched.  it is reported that these searches are being conducted due to doubts expressed on the IT returns of the last five years. (Hydnow) 

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