C. M. Ramesh, Telugu Desam Party (TDP) lawmaker, is facing severe allegations after a probe by the Income Tax (IT) department.
Mr. Ramesh was allegedly carrying out illegal and fake transactions of over Rs. 100 crores under the name of his firm, Rithwik Industries Pvt., Ltd. The income tax raid took place on the 12th of October at his residence and properties in Hyderabad.
The IT department probed all the documents seized at Ramesh’s residence and came to the conclusion that he misused his power and gained a good amount of wealth illegally. The detailed investigation, with the help of invoices and other official documents, led to the discovery of various unreliable transactions.
According to reports, transactions worth Rs. 74 crores cannot be tracked down and invoices amounting to Rs. 25 crores are unreliable. Out of the total invoices worth Rs. 33 crores, the invoices adding up to Rs. 25 crores were purchased for a commission and cash worth Rs. 23 crores were received back for the same.
G. V. L. Narasimha Rao, BJP’s Rajya Sabha member, lashed out over the evasion of money and asked for a resignation from C. M. Ramesh.
