BALLARI: The Income Tax Department on Saturday raided the house and offices of industrialist Kailash Vyas, said to be an aide of Transport Minister B Sriramulu and former MLA Suresh Babu in Bengaluru, Ballari and Koppal.
At Vidyanagar in Ballari, the IT officials checked documents related to some companies in Flat No. 310 and Flat No. 510 at Raaga Fort apartment complex. The officials came across document related to purchase of Hari Ispat steel factory by Vyas and Sriramulu for hundreds of crores and questioned him about the source of funds.
The IT officials also raided some factories linked to former legislator Suresh Babu. Kailash Vyas has taken washing plants belonging to family members of Sriramulu, Suresh Babu and the Lad family on rent/lease and the IT sleuths are looking into tax evasion.
“IT raids keep on happening and the law will take its course. I would not like to speak about it. I do not own any factories and I am not in any partnership with anyone”, Sriramulu claimed.