HYDERABAD: Income Tax sleuths on Friday conducted massive searches on Andhra Pradesh chief minister N Chandra Babu Naidu's close confidant C M Ramesh family-owned flagship company Rithwik Projects Private Limited and its subsidiaries in Hyderabad and Andhra Pradesh.
CM Ramesh is a Rajya Sabha member from TDP and hails from Kadapa. He and his family are into irrigation contracts and other significant projects in AP.
Searches were conducted on 12 premises in Hyderabad and five locations outside Hyderabad.
Rithwik Projects Private Limited was incorporated in 1999, and it has CM Ramesh's kin CM Rajesh and three others as directors of the company. The turnover of the company in 2016-17 was Rs 1357 crore. And it has a net worth of Rs 302 crore.
CM Rajesh is also a director of Rithwik Properties Private Limited, Global Earth Minerals private Limited, Rithkwik Holdings private limited, Anjandri Power private limited, Kadapa Power Private Limited, Narayanadari Green Energy Private Limited, Kadiri Green Power Private Limited and Rithwik Green Power Limited. The companies are into construction, mining and power generation.
Income Tax officials knocked the doors of the luxurious property of CM Ramesh at Jubilee Hills spread over 40,000 square foot which is a four-level structure, with a 25-foot-high floor to ceiling and teak wood pool deck. Famous architects Zubin Zainuddin then designed the House.