CM Ramesh's Rs 100 Crore Fraud!?

Update: 2018-10-19 04:17 GMT
TDP MP CM Ramesh made a hue & cry over the Income Tax Raid against him. He went on to project it as a conspiracy against him by BJP & PM Narendra Modi for launching indefinite fast seeking Kadapa Steel Plant & fighting for AP rights.

Actually, IT Raids were conducted regarding Rs 100 crore fraud of Rithwik Projects Pvt Ltd (RPPL) for which CM Ramesh is a Director.

IT Officials found suspicious transactions worth Rs 74 crore. In addition, Invoices of Rs 25 crore have been found to be fake.

Rithwik Projects paid Rs 12 crore to a Sub-Contractor M/S EDCO (India) Pvt Ltd in the past 6 years. IT Sleuths couldn't trace the address of the Sub-Contractor. RPPL's Accountant Saibab was in possession of the stamp and seal of M/S EDCO (India) Pvt Ltd.

IT Officials found invoices of Rs 33 crore. While Rs 25 crore bills were shown as the amount incurred for purchasing, Rs 23 crore out it came back to CM Ramesh's Firm.

Cash Payments of Rs 12.24 crore to Steel Suppliers and Rs 6 crore to a Delhi-based Sub-Contractor were found to be suspicious. CM Ramesh failed to explain a payment of Rs 8.4 crore in the company records.

Rs 13 lakh Cash & USD 3000 were seized during the raids at CM Ramesh's residence.

As usual, Pro-TDP Media didn't find the time to cover these key findings of the IT Departments. They are still projecting the IT Raids on TDP Leaders as an attack on Andhra People.
  
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