[1]Income tax officials here conducted raids at the premises of business tycoon L.V.R. Sivaprasad at Alwarpet in the city and recovered cash and documents, sources said.
They said over 20 IT officials conducted the raids beginning Friday afternoon. The searches went on till almost noon on Saturday. A large sum of money and some documents were seized, they said. Mr Sivaprasad’s son Vishnu is married to Sushmita, the daughter of actor-politician Chiranjeevi.
Also, Mr Sivaprasad is the son of late L.V.Ramaiah, who was the president of Andhra Chamber of Commerce in Chennai and had pioneered the import of palm oil into India. The family is also into granite and real estate businesses.
It is said that Mr Sivaprasad was out of town when the raids took place. However, the IT officials questioned his son Vishnu Prasad regarding the seizures made under section 132 of the IT Act. The cash recovered has been deposited in the Reserve Bank of India.
Meanwhile, Chiranjeevi told reporters at Hyderabad that the IT raids had nothing to do with him or his daughter. “Some news channels are trying to spread false rumours that the IT seized money belonging to me. The allegations are baseless. Some news channels are attempting to malign me for sensation”, he said
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