As expected, the Income Tax department officials are carrying out raids on the properties of Megha Engineering Company Managing Director Krishna Reddy in Hyderabad. The searches began at his residence this morning and continuing.
The officials are suspecting that Krishna Reddy has not given correct details of his actual income from the huge contracts he bagged in recent years. The IT investigation wing officials are carrying out these searches.
Megha Krishna Reddy is known for his close relations with Telugu CMs KCR and Jaganmohan Reddy. Both the CMs are no longer having good relations with the Modi-Shah duo. However, Megha sources say that there is nothing political about the present searches. They assert that it’s part of the usual searches being conducted every two years. This is going on for the last 20 years.
But still speculation is rife that these IT searches are similar to those conducted against anti-BJP industrialists all over the country.
BIG BREAKING:
IT Raids on Megha Krishna Reddy…. Raids are been going on at 17 places including his offices, house and guest houses from 6 AM today.
Megha Krisha Reddy is also the owner of @TV9Telugu and no surprise they and other media have stayed mum.
— Telugu360 (@Telugu360) October 11, 2019
