I-T probe into GVK assets

Officials of the income tax department are conducting a probe into the assets of the GVK group of companies.

On Monday last, they searched the premises of Taj Krishna and GVK group offices located at Banjara hills and seized several documents, which they are currently examining, according to sources in the I-T department.

The I-T officials are probing into the source of funds for the construction of GVK One, a 6-lakh square feet mall with a 1,000-car park facility, in Hyderabad.

Investigations are also into alleged flow of unaccounted money into some Mauritius-based companies and back to the group's fold, sources added.