Income Tax (IT) officials have raided the businesses of YSRCP leader and former MLA of Bhimavaram in West Godavari district, Grandhi Srinivas. Searches were conducted at his residence and the houses and business establishments of Grandhi’s business partners in the wake of allegations of tax evasion related to businesses worth crores of rupees.
The IT officials conducted these raids simultaneously in West Godavari, Krishna and Prakasam districts on Wednesday. Amidst the security of the Central Police Force, IT officials reached Grandhi’s house in Bhimavaram on Wednesday morning and seized records. It is reported that key documents were found in these.
Grandhi Srinivas has processing units in the shrimp business. It is also known that he has conducted transactions with other shrimp traders in Bhimavaram. This is the second time that IT searches have been conducted at Grandhi’s residence. Inspections were conducted once three decades ago. Inspections were conducted again now.
IT officials also conducted raids at Sagar Grandhi Exports Private Limited (GVR) in the old Singarayakonda panchayat limits of Singarayakonda mandal of Prakasam district. This is a shrimp processing and export company owned by Grandhi Srinivas. 11 IT officials thoroughly examined all the records of the company.
It is reported that IT officials have seized several key records after the searches. IT officials also conducted searches at the residence of Chennu Lakshmana Rao (CL Rao), a prominent shrimp trader from Nagayalanka in Krishna district and business partner of Grandhi Srinivas.
Nine IT officials from Telangana.. Under the direction of the Commissioner of that department, searches were conducted at Lakshmana Rao’s house in Nagayalanka. Lakshmana Rao has a shrimp company in Vakkapatla Vari Palem and an ice factory in Avanigadda. IT officials have conducted searches at five places.
Lakshmana Rao came to Nagayalanka less than 20 years ago and started a shrimp business. In this process, he is also doing business with former YSRCP MLA Granthi Srinivas. It is known that financial transactions worth Rs. 75 crores were recently made in partnership between Lakshmana Rao and Granthi Srinivas. However, it is reported that IT officials conducted raids due to non-payment of income taxes in this regard.
