(Image source from: Thehansindia.com)
Income Tax Raids on My Home Group:- The Income tax officials conducted raids against My Home group Chairman Rameshwar Rao Jupally who is known to be a close aide of Telangana Chief Minister K Chandrasekhar Rao. A bunch of officials arrived from Bengaluru and took the support of Hyderabad staff to conduct raids on premises of Rameshwar Rao. These are in connection with its strategic partner RMZ Group, a Bengaluru based real estate company. Some crucial money transfers between My Home Group and RMZ Group are traced.
The raids began at 7 AM last morning in the head office at Hitech City along with Rameshwar Rao's residence in Nandagiri Hills, Banjara Hills. All the directors are available and they have been questioned. Raids were held at the offices of Hetero Group. Some crucial documents have been recovered through the raids. Three teams of officials arrived from Bengaluru and the raids went on till midnight. The officials did not reveal any details about the raids. RMZ Corp inked a deal with My Home Group to develop a commercial space with an investment of 1 billion USD.
(Video Source: V6 News Telugu)