Income Tax Raids on Former MP G Ranjith Reddy and DSR Group Executives in Hyderabad
HYDERABAD: Income Tax officials conducted searches at the residences and offices of former Chevella MP G Ranjith Reddy in Hyderabad, as well as at the offices and residences of the managing director, CEO, and other senior executives of the DSR Group, from the early hours of Tuesday.
According to sources, 15 teams of I-T officials carried out the raids at multiple locations, including Jubilee Hills, Banjara Hills, SR Nagar, and Suraram in Hyderabad, along with premises in Bengaluru and Nellore. The searches were linked to suspected financial irregularities and tax evasion over the past three years.
Officials reportedly found discrepancies in filed returns, with income details allegedly suppressed. They are said to have recovered agreements, vouchers, logbooks, and other material evidence pointing to off-record transactions not reflected in I-T filings. Sources indicated that Ranjith Reddy had been involved in joint ventures with the DSR Group in recent years.
The I-T teams are examining transactions between Ranjith Reddy’s companies and the DSR Group in connection with certain construction projects, some of which were allegedly not fully disclosed in returns. Preliminary findings suggested differences between declared income and actual financial activity. Several documents related to agreements between DSR and Ranjith Reddy’s companies were reportedly seized.
The searches were expected to continue late into Tuesday night. Agency officials are likely to summon those concerned to furnish details, including bank statements, I-T returns, and supporting documents. Sources also mentioned that raids were conducted at Srinivasa Constructions, linked to Venkata Krishna Reddy, who faces allegations in the Andhra Pradesh liquor scam case in connection with key accused Raj Kesireddy. Officials reportedly seized several agreements between Srinivasa Constructions and the DSR Group, which are said to have executed several projects as a joint venture.
