ED conducts raids at Telangana Revenue Minister P Srinivasa Reddy's residence, offices
16 teams of ED conducted raids at his residence and the Raghav Group MD and Directors' residences and offices located in Banjarahills
New Delhi, September 30
The Enforcement Directorate raided multiple locations linked to Telangana Revenue Minister P Srinivasa Reddy and some others in an alleged smuggling racket worth more than ₹100 crores.
16 teams of ED conducted raids at his residence and the Raghav Group MD and Directors' residences and offices located in Banjarahills.
The money laundering case comes after the Directorate of Revenue Intelligence (DRI) complaint against P Srinivasa Reddy's son, Harsha Reddy. he charges were levied after Harsha Reddy of the Raghav Group purportedly purchased seven watches worth ₹5 crore.
The payments for these are related to an alleged hawala and crypto currency racket worth ₹100 crore. An individual identified as A Naveen Kumar is under ED's scanner in connection with the case.Ponguleti Srinivasa Reddy has previously come under ED scrutiny, with similar searches conducted at his residences in November 2023, shortly before the Telangana Assembly elections.
Ponguleti Srinivasa Reddy has been the Minister for Revenue, Housing, Information and Public Relations in the Telangana government since December 7, 2023.
