The IT department has identified a huge amount of black money in two real estate business companies in Hyderabad and its suburbs. The IT department officially announced that the two companies did not have proper records for Rs 700 crore.
The IT department has identified two leading companies as setting up real estate ventures in the Yadadri Bhuvanagiri district. The IT department said that it had identified 700 crore black money transactions in both companies.
The IT department has found that these companies have developed specialized software for black money transactions. The IT department has estimated that within two weeks, Rs 3,200 crore were transacted. The transactions of these companies were seized by the IT department officials.