The income tax raids in Telengana Congress President A Revanth Reddy has disclosed that the leader allegedly owned 19 companies. He invested money in the shell companies. The preliminary investigation revealed that Revanth is the main beneficiary of all such ill gotten money along with his father in law named S Padma Reddy.
All the transactions were done by Sri Sai Mourya Estates and Projects Private Limited and sold out the plots and lands in the city at different places by forming a ring of his relatives. The companies Revanth floated are
1. Sri Sai Mourya Estates and Projects private limited, BanjaraHills. Five Directors. JayaPrakash Sudini( Brother-in-law of Revanth Reddy)
2. Builders Pride Estates and Projects LLP, BanjaraHIlls.Two Directors
3. Sri Sai Mourya Infra Private Limited, BanjaraHIlls. Two Directors. JayaPrakash Sudini( Brother-in-law of Revanth Reddy)
4. Vijaya Magadha Projects and Infrastructures Private Limited, BanjaraHIlls. Two Directors.
5. Avalanches Infra Private Limited,Somajiguda. Three Directors.
6. Durga Petroleum Products,Moosapet. Two Directors. Geeta Sudini(wife of Revanth Reddy), (JayaPrakash Sudini( Brother-in-law of Revanth Reddy)
7. Studio 7 Software Services Private Limited, BanjaraHIlls. Two Directors.
8. Sri Sai Magadha Enterprises, BanjaraHIlls. Three Directors
9. RPAS Solutions Private Limited, Madhapur. Three Directors.
10. VARTECHS Info Private Limited, Kondapur. Four Directors
11. SVR Nirman Private Limited, Madinaguda.Two Directors
12. Key Soft IT Private limited,Himayatnagar. Two Directors
13. Studyfever Education Consultants, Himayatnagar. Five Directors
14. Sri Laksmi Venkateshwara Polymer Bitumen private limited, Hitech city. Two Directors
15. Sai Roja Constructions private Limited, Hyderabad. One Director
16. Vijaya Aero Blocks Private Limited, BanjaraHills. Four Directors
17. Larrs Ferro Alloys Private Limited, JubileeHIlls.Two Directors.
The complainant A Rama Rao alleged that money laundering was involved in all these companies and made a transactions of Rs 300 crore illegally.