I-T raids on realty firm; owners, partners quizzed

I-T raids on realty firm; owners, partners quizzed
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Highlights

The Income Tax IT sleuths on Wednesday carried out raids on a real estate firm Sandhya Realtors and the residences of its owner S Sreedhar in Hyderabad limits They conducted searches at the house of Sreedhar in Jubilee Hills and the Sandhya Convention offices which are located at Madhapur, Raidurgam and Gachibowli

Hyderabad: The Income Tax (I-T) sleuths on Wednesday carried out raids on a real estate firm Sandhya Realtors and the residences of its owner S Sreedhar in Hyderabad limits. They conducted searches at the house of Sreedhar in Jubilee Hills and the Sandhya Convention offices which are located at Madhapur, Raidurgam and Gachibowli.

The I-T sleuths have also raided on the houses of four other partners of Sreedhar in the city limits. They found that Sreedhar on behalf of others was doing benami real estate business. They quizzed them for more than 24 hours to get clarity on benami and financial transactions done by the company. According to sources, they seized many key documents pertaining to the benami business from the searched places.

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