Hyderabad: The IT officials seized unaccounted cash of Rs 8.8 crores from the residences of Telangana Labour Minister C Malla Reddy and his relatives on Wednesday.
The IT authorities conducted raids 48 hours on the residence of Malla Reddy and his relatives. According to the sources the IT officials identified 12 lockers in eight different banks belonging to the Minister and his relatives. While four of them were opened with the help of Malla Reddy’s daughter Shreya, who accompanied the officials, the rest were sealed.
A total of Rs 4 crore was also seized from the residence of Santosh Reddy, who handles Malla Reddy’s finances related to real estate and other businesses. Sources said that fees’ being illegally collected under management quota seats was being transferred to other businesses belonging to the family-owned group of companies.