Satya Prabha and Company run colleges, hospitals.
The Income-Tax raids on medical educational institutions in Bengaluru and other business establishments across the country belonging to Chittoor Telugu Desam MLA D.A. Satya Prabha, widow of former MP and business tycoon D.K. Adikeshavulu Naidu, has created a sensation across the district where the MLA’s family is considered as the owners of the richest business empire, who are also known for their charitable activities.
According to I-T officials, unaccounted income of over Rs 265 crore has been seized so far from the institutions run by Ms Satya Prabha. I-T officials who conducted the raids on the residence of Ms Satya Prabha in Chittoor on September 23 and 24 have seized a large number of documents, for which she has reportedly been asked to file returns by this month end.
IT officials had simultaneously conducted raids at the offices and houses of the MLA in Bengaluru, Hyderabad, and other places. Later, on Tuesday, I-T officials raided Vydehi Medical College and Hospital at Whitefield, Mallya Hospital and other business entities in Bengaluru. The searches ended on Wednesday when officials seized Rs 43 crore in cash, which was unaccounted.
Cash seized is money received as donations
An official said that cash was seized from the house of one of the trustees of Vydehi Institute of Medical Sciences and Research Centre. Searches were also conducted at the residences of key persons of the group in various cities in Karnataka and in other states.
“The cash seized was generated from donations received at the time of admissions in the medical college. The cash seizure is the highest so far in Karnataka and Goa,” said an official.
“Apart from this, several incriminating documents and other evidences were also seized. These seizures have resulted in an immediate disclosure of unaccounted income of over Rs 265 crore. Scrutiny of the evidence found during the search is in progress,” the official added.
After the demise of Vydehi group founder D.K. Adikeshavulu Naidu, the trust was being run on his name. The Vydehi Group runs medical, dental, paramedical, and nursing colleges in Bengaluru. The group also has hospitals and dialysis centres at Bidar and Kolkata. Vydehi Medical College comes under the Association of Minority Colleges.
The counselling for UG medical seats of Vydehi Medical College was scheduled to commence on Wednesday. It is learnt that following the I-T raids it is not possible to conduct counselling. I-T officials suspect the management had blocked the seats allocated for rankers and had sold