TPN , Hyderabad: The Income Tax (IT) Department has launched simultaneous raids at several upscale locations in Hyderabad, beginning early Tuesday morning. Ten teams of IT officials are currently conducting searches across Kukatpally, Banjara Hills, Jubilee Hills, Madhapur, Basheerbagh, and other prominent areas, with operations expected to continue for several more hours.
The raids are focused on both residential and commercial premises as part of an investigation into suspected financial irregularities. Among the key targets is businessman Bolla Ramakrishna, known for his diverse business interests in finance, healthcare, liquor, and real estate, as well as for running the BRK News Channel.
One of the IT teams has been searching Ramakrishna’s residence at Rainbow Vistas Rock Garden in Kukatpally, where eight officers are meticulously examining documents related to financial transactions.
Additionally, IT officials are also conducting a raid at the headquarters of a finance company as part of the same investigation into income discrepancies and potential tax evasion.
Details of the ongoing searches are still emerging as the teams sift through extensive documentation. The IT Department has not yet released any further information regarding the findings or implications of these raids.