IT Raids In TDP MLC’s Chennai House

Chennai: The Income Tax sleuths today raided the Magunta Group of Companies, belonging to Telugu Desam Party (TDP) MLC Magunta Srinivasulu Reddy here. The IT officers, it is said, carried out extensive searches in the company's office in T-nagar in the city and the factory located at Poonamallee.

In the Savera Hotel in the city, the sleuths found large amounts of cash and jewelry, it is said. The officers are further searching in various places across the city. In total, Rs 55 crore worth unaccounted cash was recovered from the MLC's companies.

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