I-T raids continue on ex-MLA Grandhi Srinivas

Rajamahendravaram: Income Tax raids on former Bhimavaram MLA and YSR Congress Party leader Grandhi Srinivas continued for the third consecutive day on Friday in West Godavari district.

The raids were held at the residence and business enterprises of Srinivas.

There have been allegations against the ex-MLA that he was involved in irregularities during land acquisitions for housing projects. Seven locations in Bhimavaram have been searched by IT officials from Chennai, including Srinivas’s home, business offices, and the residences of close associates.

According to reliable sources, significant cash and critical documents have been seized. These raids also extended to other districts including Eluru, Krishna and Prakasam, where Srinivas’ business dealings are under scrutiny.

Political opponents claim Srinivas evaded taxes on high-value transactions worth crores. The initial raids in West Godavari, Eluru, and Krishna districts led to further searches in the Prakasam district based on the information gathered.

Documents indicate that Srinivas was involved in major aquaculture businesses, managing shrimp processing units and engaged in financial transactions with local shrimp enterprises in Bhimavaram.

The IT officials also conducted searches at Sagar Grandhi Exports Pvt Ltd., a shrimp processing and export company in Singarayakonda, Prakasam district, reportedly owned by Srinivas. A team of 11 IT officials from Hyderabad examined company records and took possession of several documents.

Additionally, IT officials raided the residence of prominent shrimp trader Chennu Lakshman Rao in Krishna district, who is reportedly a business partner of Srinivas.The two jointly manage a shrimp processing company and an ice factory in Avanigadda. Authorities questioned the duo regarding financial dealings worth Rs 75 crore suspecting that income from these ventures was concealed and taxes were not paid.