Hyderabad: Income Tax authorities carried out extensive searches at the offices of KMV Constructions located in Ameerpet and other associated offices, as well as the residences of its directors and individuals holding key positions within the company on Friday, October 13.
Around 15 teams of Income Tax officials conducted these search operations early in the morning in Andhra Pradesh and Telangana.
KMV Constructions, led by its chairman and managing director Kanakamedala Varaprasad Rao, has been involved in several significant ongoing projects. The company has successfully executed numerous major projects throughout the country in recent times.
Allegations have emerged that a substantial amount of money has been redirected by the company for the upcoming Assembly elections in Telangana. As of now, the Income Tax officials are continuing their operations to investigate these claims further.
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