I-T officials raid TDP MP's office, residence

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posted on 13 years ago — updated on 1 second ago

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The MP, representing Khammam constituency, owns the Madhucon group of companies.

Hyderabad: Income Tax officials raided the residence of one of Andhra Pradesh's richest MPs, Nageswara Rao, on Friday. Rao's residence in Hyderaband and offices in Khammam were searched by the officials.

The MP, who belongs to the Telugu Desam party and represents Khammam constituency, owns the Madhucon group of companies primarily dealing with sugar, granite and infrastructure. He is reportedly worth over Rs 173 crore.

A first time Lok Sabha MP, Rao upset Congress's Renuka Chowdhary in the 2009 Lok Sabha elections. He was elected the Telugu Desam Parliamentary party leader after the 2009 Lok Sabha elections.

He was not present when the IT officials raided his premises.