IT raids Ramky offices in Hyderabad, Vizag

Published: 08th February 2013 08:08 AM  |   Last Updated: 08th February 2013 08:08 AM   |  A+A-

Income tax officials conducted simultaneous searches at 16 offices of Ramky infrastructure company, including the ones in Hyderabad and in Vizag, and seized some documents, it is learnt.

Sleuths also carried out searches at Vensar Construction Company Limited owned by Ummareddy Venkata Ramana, son of YSR Congress leader Ummarreddy Venkateswarlu, which has close business links with the Ramky group which has several major projects.

Teams of IT officials descended on the Ramky offices around 10.30 am and began scrutinising the documents. The searches continued till 1 pm. They found that bogus sub-contractors had been shown in the books besides finding some mismatch in the sales and purchases and on advance tax payment. 

Subsequently, the officials carried out searches at Vensar Constructions, which has close business links with Ramky group owned by Ayodhya Rami Reddy. Some documents were seized from Vensar too. Earlier, the Enforcement Directorate had attached assets worth Rs 143.74 crore, including those belonging to Ramky, in connection with Jagan case. The properties included 135 acres of land at Ramky Pharma City and some money deposits.

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