IT Raids on TRS Minister’s company causes tension

Recently, income tax raids were conducted on a pharma company belonging to Mahbub Nagar MP Manne Srinivas Reddy. Black money worth Rs. 400 Crores came to light in this raid, and most of it came into light due to the various bogus companies being run.

The IT department seized net cash worth Rs. 1.6 Crores, important documents, pen drives and hard disks. This MSN Pharma company, owned by Srinivas Reddy, is more famous for supplying intermediary products to other pharma companies, instead of being famous for manufacturing anything at all. Several discrepancies were noticed in the various branches of the company, in various states.

IT raids are very common. However, IT raids are usually done on infrastructure-related companies, which is why IT raids being done on a pharma company is raising eyebrows. On the other hand, this company belonging to a TRS MP has become a cause for more shock.

For the past few months, members of the TRS are being targeted by the IT department, and this includes close relatives of TRS members as well. Hundreds of crores of black money is said to have been identified with these people, by the IT department. Each one of these cases is coming out slowly and gradually, depending upon the necessity.

It is very well known that the BJP has been wanting to gain power in the state of Telangana, and recently, ahead of the general elections in West Bengal, several IT cases have been filed against members belonging to the TMC.

Most of these members have shifted to BJP ahead of the elections, and IT, CBI and ED cases continue to be booked on those who are still loyal to TMC, because of which those members are not able to be at the forefront of the elections.

It is being said that the BJP is doing the same in Telangana. It is now to be seen how the TRS party will react to all of this.