IT raids on two real estate traders in Old City, seizes assets

IT raids on two real estate traders in Old City, seizes assets
Representational Photo

Hyderabad: Income Tax Investigation Wing led by Asst. Director, Mr. Shakir Husain raided the houses, offices and marriage halls of noted real estate businessmen in Shashtripuram, Engine Bowli and Towlichowki.

Authentic sources revealed that these real estate businessmen are famous for holding benami properties. They are supposed to be close confidants of the local politicians. One of the businessmen is the main character of national level TV news channel.

IT officials seized documents of properties and lands which were raised due to accounted money. They suspect that the businessman of Shastripuram is the custodian of the local leaders and their properties. Due to the sudden raids of IT authorities, the local political leaders also got panicky.

IT department had kept vigilance on these businessmen for the past few months. Many imported cars were found in his house. These raids started in the morning and continued till late in the night.

It was also known that these people have bought shares of various companies. They have beenami properties in Vijayawada as well. The real estate trader of Towlichowki is reported to be the close associate of many political leaders. He had acquired many benami properties.

It is reported that the members of these businessmen made an attempt to contact the local leadership but they were disappointed. IT Department issued notices to two real estate businessmen. They have been commissioned to appear before IT officials on 26th October at Aykar Bhavan, Basheer Bagh. Soon after the news of these raids was made public, the supporters of real estate traders continued to inform the local political leaders about the movements of IT officials.

–Siasat News