Taxmen raid Banglore real estate playersTaxmen raid Real estate players such as Manyata Developers, RS Developers - in Bangalore
Apnaloan.com Research Bureau
10 Aug 2007
Income tax department raided 27 office and six residences of the real estate players in the Bangalore city on June 26. A total of 140 income tax officials took part in the operations.
It was alleged that two of the real estate players were associated with the Karnataka Chief Minister H D Kumaraswamy. But Kumaraswamy lashed out at those allegations and said he has no links with them.
The associates of Karnataka Chief Minister raided included S Manjunath a real estate developer and party worker in Janata Dal (Secular) and the another person by the name of Prasad Babu, director of a cable distribution company, said media reports.
Taxmen also conducted raids on Manyata Developers and R S Developers. Incidentally, Manyata developers was awarded a 22 hectare IT special economic zone (SEZ) projected by government. R S Developers was also in news, when nearly Rs 1.2 crore belonging to the real estate company was stolen by seven youths when it was being brought from the bank.
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