HYDERABAD: Income Tax officials on Thursday raided the offices of Infrastructure giant IVRCL and the residences of its owners and reportedly seized incriminating documents.This is the second time that IT has raided the company owned by E Sudheer Reddy and Sunil Reddy which has its office at Banjara Hills.According to sources, a team of IT officials arrived at the IVRCL office in the morning and began scrutinising documents. Subsequently, another team went to conduct searches at Sudheer Reddy’s residence. The searches lasted till late in the night.Sources said the IVCRL top brass were close to two former chief ministers.Both Sudheer and Sunil Reddy belong to Kadapa district.“Huge tracts of land were allotted to IVRCL in Gachibowli area where massive villas, independent apartments and a five star hotel have been constructed,” sources said.IVRCL was previously searched by IT sleuths in connection with the alleged amassing of wealth by the then Jharkhand chief minister Madhu Koda.IVRCL operates in the sectors of transportation, buildings, power, water and environment. Its subsidiary companies are IVRCL assets and holdings limited, Hindustan Dorr-Oliver limited and Davy Markhan (UK).With its headquarters in Hyderabad, IVRCL has offices across the country including Delhi, Chennai, Bengaluru, Haryana, Jodhpur and Raipur among other cities.“Searches are still going on and we will be able to comment only after scrutinising the documents thoroughly,” an Income Tax official said.
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