I-T officials raid super rich TDP MP Nama Nageswara Rao

Income Tax Department officials today conducted searches in the office and residence of TDP MP Nama Nageswara Rao, who had declared assets worth Rs 173 crore while filing his nomination papers in 2009, making him one of the richest MPs in Parliament.

Income Tax Department officials on Friday conducted searches in the office and residence of TDP MP Nama Nageswara Rao, who had declared assets worth Rs 173 crore while filing his nomination papers in 2009, making him one of the richest MPs in Parliament.

HT Image

Sources said I-T officials raided Nageswara Rao's construction firm Madhucon in his native Khammam town besides premises at Hyderabad.

They said the searches which are on since morning, were "routine" in nature wherein the firm's accounts would be verified every quarter to check tax evasion, if any.

Nageswara Rao represents Khammam Lok Sabha constituency. His Madhucon executes various roads and other major projects in Andhra Pradesh as well as other states.

Its operations also extend to some foreign countries. The TDP leader was not present when the IT officials raided his premises.

Further details about the searches are awaited.