Income Tax officials were carrying out searches on the premises of Bharat Rashtra Samithi (BRS) MLAs P. Shekhar Reddy and Marri Janardhan Reddy in Hyderabad and other places in Telangana on Wednesday.
The searches were on amid tight security around the premises of Bhongir MLA Shekhar Reddy and Nagarkurnool MLA Marri Janardhan Reddy.
Shekhar Reddy is into real estate, mining, solar energy, and lithium battery businesses, under the name of Theertha Group.
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The company is said to be involved in the mining business in South Africa. It has also completed many residential and commercial projects in Hyderabad and Karnataka.
The I-T officers were also conducting searches at the premises of two technology companies in which Shekhar Reddy’s wife Vanitha Reddy is said to be the director.
Sources said I-T officials have formed 50 teams which were also carrying out multiple searches on various premises of real estate companies and their promoters in Hyderabad.
They are checking the income records of the companies as part of the investigation into alleged irregularities in Income tax payments.
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