Evidence of shell companies have been reportedly found in the Income Tax raid conducted at the residences of close relatives of Telugu Desam Party's MP C.M. Ramesh on Friday.
The raids started today morning and are still going on at 10 places in Hyderabad, Kadapa and Delhi.
Sources in the Income-tax department told ANI that the shell companies were reportedly being used as Sub-Contractors in order to evade tax, financial transactions.
Apart from the raids at 10 different places, Income tax department is also conducting surveys at 6 places.
Wife of CM Ramesh, C.R. Sridevi and Brother CM Rajesh are also being covered in these raid.
Ramesh is a promoter of Rithwik Projects Pvt Ltd which is primarily in the business of civil contract works and Infrastructure projects.
Disclaimer: No Business Standard Journalist was involved in creation of this content
