Officials of the Income Tax Department on Thursday raided the premises of Nellore-based businessman and politician Beeda Masthan Rao of the Telugu Desam Party (TDP). Masthan is said to be a close aide of party chief and Andhra Pradesh Chief Minister N Chandrababu Naidu.
According to reports, I-T sleuths from Chennai have conducted raids on BMR Groups, a shrimp farming and exports firm where Beeda Masthan Rao is the chairman. It is reported that the simultaneous raids were taking place in eight places including in Chennai and Nellore.
Sleuths were also reported to have seized several documents related to the business dealings. Officials oversaw the operations and records of the firm in Kavali, Damavaram, Ramatheertham. Further details are awaited.
BMR Groups’ official website stated that over 25 years, the BMR Group had grown to an industrial conglomerate with 250 hectares of hatcheries, 600 hectares of farming, on-site labs and feed mills, a state-of-the-art factory covering 50,000 sq. ft. in Dhamavaram, with a capacity of 25 metric tonnes per day.