Income Tx raids took place in Hyderabad’s Ramki groups on the 6th of this month, whose Chairman, Ayodhya Ramireddy is a member of the Rajya Sabha. It has been declared that Rs. 300 Crores black money was found in the Ramki groups. The Ramki Groups showed a loss of Rs. 1200 Crores to the IT department, and tried to be exempted from paying any taxes. The IT department said that the Ramki group has agreed to pay the taxes for these Rs. 300 Crores as well.
The IT report of this raid has been released today, in which the above details were mentioned. The report also stated that several documents, which prove that several illegal transactions took place in the group, were found during the raid. The IT department is also said to have confiscated a few of these documents.
The IT department’s report also stated that the major share of the Ramki groups has been sold to a firm in Singapore, and all the documents belonging to Rs. 288 Crores have been destroyed by the company.