I-T conducts searches at YSR Congress Rajya Sabha MP Alla Ayodha Rami Reddy's properties in Hyderabad

HYDERABAD: Sleuths of the income-tax department on Tuesday morning conducted searches YSR Congress Rajya Sabha MP Alla Ayodha Rami Reddy's properties in Hyderabad. Searches are being conducted at 15 premises, primarily located in CEO Enclave Gachibowli in the city.
Sources in the income-tax department said that the raids were being carried out to check whether the losses shown by the group companies of Ramky were genuine or not.
"We are verifying the genuineness of losses shown by the Ramky group companies linked to Ayodhya Rami Reddy's family. There are hundreds of transactions between the companies of the group," said a source in Income Tax department.
Ramky Infrastructure, Ramky Enviroengineers are the two flagship companies of the group. Ayodhya Rami Reddy is not a director of any of these companies currently.