Income-Tax sleuths held raids at Raasi's house and Kolors healthcare

With the Income Tax sleuths holding raids across the country on various institutions has conducted searches on Kolors healthcare, a wellness and beauty chain on tax evasion charges. Searches were conducted at 35 locations in Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana and Andhra Pradesh, besides Raasi's home and Kolors director Devula Vijay Krishna.

As per the reports, the IT officials found that the company has not produced the accounts while the sources said Raasi, who is related to Devula Vijay Krishna has been endorsing products and advertising for the company.

Vijay Krishna is the director of many companies which include Kolors Food Sciences LLP, Kolors Healthcare Franchises Servies LLP, Kolors Beauty and wellness Academy LLP, Kolors Advanced Dentistry LLP, Kolors HealthCare LLP, Kolors HelathCare India Private Limited. Income tax department officials are verifying transactions in all companies.I-T sleuths are verifying transactions in all companies.

"The company has suppressed the number of payments received at the point of sale in the branches," an official said. The company claims to have 10 lakh customers, 49 branches and 1,500 dieticians and therapists on its website.

Earlier, Vijayawada and Vishakapatnam consumer courts had given judgements against Kolors after receiving complaints.