(Image source from: Forbes.com)

IT Raids on Megha Krishna Reddy:- The Income Tax officials conducted raids on the premises, residences and properties of Megha Engineering Company Limited Krishna Reddy. The raids started at 6 AM this morning and are expected to continue till evening. The investigation wing officials of the Income Tax department are conducting the raids on all his premises from the morning. Krishna Reddy happens to be a close friend of AP Chief Minister YS Jaganmohan Reddy and owns a stake in the leading Telugu news channel tv9.

Megha Engineering responded saying that the IT officials are conducting routine checks and there is nothing unusual. The raids started in 17 places across the Telugu states. The biggest surprise is that no Telugu news channel reported the raids and are tightlipped about it. Some of the web portals published the news. More updates about the IT raids are expected by the evening.