The Income Tax Department carried out searches on the residence of Telugu Desam Party (TDP) Kadapa district president Srinivasa Reddy aka Vasu on Thursday. According to sources, the searches began on Thursday morning at his residence in Dwarakanagar in Kadapa district.
According to reports, Central Reserve Police Force (CRPF) personnel cordoned off the residence of Srinivasa as the searches got under way. A team consisting of 10 members searched and verified documents pertaining to his companies and income tax filings.
Srinivasa Reddy is a close aide of TDP General Secretary Nara Lokesh, who is also the son of former Chief Minister Chandrababu Naidu. Srinivasa contested in the 2014 Lok Sabha Elections from Kadapa, but lost to the YSRCP candidate. His brother Ramesh Kumar is also a leader in TDP and lost in recent elections from Rayachoti.
The TDP leader reportedly owns infrastructure and construction firms and has shares in other companies. Srinivasa’s firms had reportedly taken up several contracts in neighboring states like Telangana and Maharashtra.
Srinivasa is the second TDP leader from Kadapa to come under the I-T scanner. Properties belonging to Rajya Sabha MP CM Ramesh were raided in April 2019, two months before he defected to the BJP.
In December last year, another senior leader Rayapati Sambasiva Rao offices and properties in Guntur and Vijayawada were raided by Central Bureau of Investigation (CBI) officials following allegations that Transstroy (India) Limited, a company owned by him has defaulted the payment of loans worth Rs 300 crore to banks.