IT raids on Vasudha Pharma in Hyderabad
Hyderabad: The Income Tax Department (IT) officials conducting raids in Hyderabad, targeting Vasudha Pharma and Chemicals. According to the sources, 40 locations are being searched simultaneously, including the residences of the company's chairman, Raju, and the company directors.
Sources said that the IT officials suspect irregularities in financial transactions and believe Raju may be involved in real estate dealings under the guise of Vasudha Pharma and other 15 companies. It is learnt that the raids began on early Tuesday morning and are being carried out by 50 teams in both Andhra Pradesh and Telangana states.