Hyderabad: The Income Tax (IT) authorities conducted searches at the office of AMR Group of Companies and reportedly questioned its chairman along with its group of directors.
The IT teams swung into action after the Hyderabad police seized nearly Rs. 3.50 crores during vehicle checking at Banjara Hills on Friday. The amount was handed over to the Income Tax authorities and is said to have been brought to the city from neighbouring Karnataka.
Based on a tip-off from two individuals who were taken into custody by the Task Force, the IT teams are conducting searches at the offices of the company and the house of the company’s directors including the residence of AMR Group chairman Mahesh Reddy. The officials questioned Mahesh Reddy in connection with the seizure of Rs. 3.50 crores.
The Special Cell of the Election Commission of India (ECI) is coordinating with the Income Tax authorities in the raids.