Suspecting tax evasion, Income-tax authorities conducted countrywide searches on Hyderabad-based Kolors Health Care India Private Limited.
So far, searches have been conducted at 40 locations, including in Telangana and Andhra Pradesh. It is learnt that incriminating documents and receipts have been seized, and they are currently under scrutiny.
The company, which is into beauty, fitness, and weight loss among other things, is owned by Vijay Krishna Devula and his partner G. Nagachandra Venkata Rayudu. Vijay Krishna is said to be a relative of Tollywood actress Raasi and searches were reportedly conducted at her house as well.
Sources said Raasi is related to Devula and has been endorsing products and advertising for the company.
“The company has suppressed the number of payments received at the point of sale in the branches,” an official said.
“We have seized machines and computers and other documents to analyse the scale of evasion.”
The company claims to have 10 lakh customers, 49 branches and 1,500 dieticians and therapists on its website.
Consumer courts in Vijayawada and Vishakapatnam had earlier given judgements against Kolors after receiving complaints.
Vijayawada consumer forum had in February 2019 ordered the ‘misleading advertisements’ of Raasi and other actress, Rambha, be stopped after receiving complaints from consumers.
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