I-T raidsPeram Group’s offices in Andhra Pradesh & Telangana
Income tax department sleuths conducted searches on real estate company Peram group on Tuesday in Hyderabad, Vishakapatnam, Tirupati and Bengaluru.
Searches are conducted on GGR Housing India Private limited owned by family members of PeramGiribabu and his relative Yarapathaneni Mahesh Babu.
Peram groups is executing 47 real estate projects in the three states and it is suspected that the company evaded tax on large scale in real estate transactions.
B Greesma, Devesena, Giribabu. Thulasi and Devi the family members are the directors of the company.
One of the directors Yarapathaneni Mahesh Babu is the kin of TDP MLA Yarapathaneni Srinivas from Gurajala in Guntur. A CID probe is also on against the MLA who us facing mining allegations.
Searches are carried out in multiple locations and key documents were seized.