Income Tax Officials Raid Navayuga Group Company Again

Some 200 sleuths of the income tax department raided the offices of Navayuga Engineering Company at Jubilee Hills and Somajiguda on Thursday and seized some allegedly incriminating documents along with a hard disk.

The officials enquired about various companies related to Navayuga during the raids, and sought to verify if the IT returns filed over the last four years reflected the actual numbers. They also enquired about the various projects that were taken up by the company in Telangana, Andhra Pradesh and elsewhere in the country.

The company has taken up the construction of the Polavaram irrigation project in Andhra Pradesh, too.

Based on reports that the company had violated various norms, the Registrar of Companies (RoC) had already conducted raids at the company a few months ago, and enquired about several shell companies allegedly involved in money laundering. And back in 2012, IT officials had conducted similar searches at the city offices of the Navayuga group as also at the residences of the company's top brass. These raids were carried out as part of nationwide searches of the company's properties.