Telangana MP Srinivasa Reddy's Firm 'Admits' Rs 60 Crore Black Money After Income Tax Raids

Agencies
November 9, 2018

New Delhi, Nov 9: A real estate firm linked to an MP of the ruling TRS in Telangana has admitted over Rs 60 crore as undisclosed income to the I-T department after multiple raids were conducted against it in September, officials said.

The firm, Ms Raghava Constructions, is promoted by Telangana Rashtra Samithi (TRS) parliamentarian P Srinivasa Reddy and his family members are partners in the company, they said.

Reddy was elected to the Lok Sabha in the 2014 elections on a YSR Congress Party ticket, but later switched over to the TRS.

The Income Tax (I-T) Department had launched searches at 16 premises of the firm and its executives in Hyderabad, Khammam, Guntur, Vijaywada, Ongole and Kadapa on September 18. The raids lasted four days.

The officials said the department has found tax evasion by the firm on at least three counts by allegedly processing "bogus sale bills" and letting of "sub-contracts to purported fictitious accounts."

The Member of Parliament (MP) from Khammam, Reddy, however, denied any wrongdoing.

"The I-T Department verification process in the case is still ongoing... Rs 60 crore is not the correct figure. The firm Raghava Constructions is a maximum tax paying company and last year it paid 14.5 per cent tax on its income and before this it paid 12 per cent income tax.

"The I-T formalities are not completed and I cannot say much as of now as I am in the campaign trail in the state," Reddy said.

Polls to the 119-member Telangana Assembly will be held on December 7.

The officials said the department, during proceedings in the case, recorded the statement of Prasad Reddy, managing partner of the real estate firm, and that he admitted undisclosed income to the tune of Rs 60.35 crore.

"The undisclosed income detected in this case is for various assessment years and the firm has assured it will soon pay the due tax," a senior official said.

The firm, the officials said, had also executed civil contract works for state government's schemes like 'Mission Kakatiya' and 'Mission Bhagiratha' that aims to better irrigation facilities and drinking water supply in Telangana.

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News Network
May 7,2020

New Delhi, May 7: Prime Minister Narendra Modi on Thursday hailed people leading the fight against coronavirus and said India is standing firmly with those facing difficult times during the pandemic, both in the country and abroad.

He also said India's development will always aid global growth.

Speaking at a global virtual Buddha Purnima event, Modi said, "People world over working selflessly for others in these difficult times are worthy of praise."

"India is standing strong and selflessly in these difficult times with those facing trouble in India or abroad. India's growth will always be aiding global growth," he said.

Buddha Purnima celebrations are being held virtually due to the COVID-19 pandemic.

The event is being organised in the honour of COVID-19 victims and frontline warriors.

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Agencies
May 23,2020

New Delhi, May 23: The nationwide lockdown will no longer help India in its fight against COVID-19, and in its place community-driven containment, isolation and quarantine strategies have to be brought into play, leading virologist Shahid Jameel said.

The recipient of Shanti Swarup Bhatnagar Prize for Science and Technology also stressed that testing should be carried out vigorously to identify coronavirus hotspots and isolate those areas.

"Our current testing rate at 1,744 tests per million population is one of the lowest in the world. We should deploy both antibody tests and confirmatory PCR tests. This will tell us about pockets of ongoing infection and past (recovered) infection. This will provide data to open up gradually and let economic activity resume," Jameel told PTI in an interview.

He stressed that testing has to be dynamic to continuously monitor red, orange and green zones and change these based on that data.

About community transmission of COVID-19 in India, Jameel said the country reached that stage long ago.

"We reached community transmission a long time ago. It's just that the health authorities are not admitting it. Even ICMR's own study of SARI (severe acute respiratory illness) showed that about 40 per cent of those who tested positive for SARS-CoV-2 did not have any history of overseas travel or contact to a known case. If this is not community transmission, then what is?" he posed.

Lockdown bought India time in its fight against coronavirus, but continuing it is unlikely to yield any further dividend, Jameel said.

"Instead, community-driven local lockdowns, isolations and quarantines have to come into play. Building trust is most important so that people follow rules. A public health problem cannot be dealt with as a law-and-order problem."

The nationwide lockdown, initially imposed from March 25 to April 14, has been extended thrice and will continue at least till May 31. The virus has claimed 3,720 lives and infected over 1.25 lakh people in the country so far.

Jameel has expertise in the fields of molecular biology, infectious diseases, and biotechnology. He is the CEO of Wellcome Trust/Department of Biotechnology's India Alliance and is best known for extensive research in Hepatitis E virus and HIV.

He said COVID-19 will eventually be controlled through herd immunity, which is acquired in two ways – when a sufficient fraction of the population gets infected and recovers, and with vaccination.

"It is estimated that for SARS-CoV-2 at least 60 per cent of the population would have to be infected and recovered, or vaccinated. This will happen over the course of the next few years," Jameel said.

Herd immunity is reached when the majority of a population becomes immune to an infectious disease, either because they have become infected and recovered, or through vaccination. When that happens, the disease is less likely to spread to people who aren't immune, because there just aren't enough infectious carriers.

"India has 1.38 billion people, a population density of about 400/sq km and a healthcare system ranked at 143 in the world. If we allow 60 per cent people to get infected quickly in the hopes of herd immunity, that would mean 830 million infections," Jameel said.

"If 15 per cent need hospitalization that means about 125 million isolation beds (we have 0.3 million). If five per cent need oxygen and ventilatory support, this amounts to about 42 million oxygen support and ICU beds; we have 0.1 million oxygen support beds and 34,000 ICU beds. This would overwhelm the healthcare system causing mayhem," he said.

Jameel said if the population level mortality is 0.5 per cent that would mean 40 lakh deaths. "Are we prepared to pay this price for herd immunity in the short term? Clearly not," he said.

He said it is unlikely that a vaccine would be available by the end of the year.

"Even then, we don't know yet how long it would give protection – weeks, months, one year, a few years? I don't think we will return to pre-coronavirus days for at least the next 3-5 years. This is also a chance to evaluate if we want to return to those unsustainable, environment-damaging ways. COVID-19 is a timely warning to reform our way of living," he said.

Jameel said it is hard to predict but plausible that COVID-19 would return in second or third wave.

"Later waves come when we don't understand the disease and become lax. A comparison to Spanish Flu is not entirely valid because in 1918 no one knew what caused it. No one had seen a virus till the mid-1930s as the electron microscope needed to view those was invented in 1931," he said.

"Today we know a lot more about the pathogen, its genetic makeup, how it transmits and how to prevent it. We need to be sensible and follow expert advice," he said.

If there is any scientific evidence linking deforestation, rapid urbanisation, climate change with pandemics like COVID-19, he said zoonotic viruses -- those that jump from animals to humans -- happen so when wild animal–human contacts increase.

"Deforestation destroys animal habitats bringing them closer to humans. When you cut forests, bats come to roost on trees closer to human habitations. Their viruses in secretions/stool get transmitted to domestic animals and on to humans. This happened clearly with Nipah virus outbreak in Malaysia in 1997-98 from fruit bats to pigs to humans," he said.

"COVID-19 possibly arose in wet animal markets due to dietary habits that bring all kinds of live and dead wild animals in close contact with humans," Jameel added.

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News Network
May 12,2020

New Delhi, May 12: With 3,604 more COVID-19 cases reported in the last 24 hours, India's tally of coronavirus cases reached 70,756, said the Union Ministry of Health and Family Welfare on Tuesday. 87 deaths were reported during the period.

As per the tally, 46,008 patients are active coronavirus cases while 22,454 patients have been cured/discharged and one patient has migrated.

With 87 deaths due to COVID-19 reported in the last 24 hours, the number of deaths has risen to 2,293.

As per the ministry, Maharashtra has the most number of coronavirus cases with 23,401 cases with 4,786 patients being cured/discharged while 868 deaths have been reported in the state.

Gujarat is second on the list with 8,541 cases that include 2,780 patients recovering from the disease and 513 fatalities.

Tamil Nadu's tally reached 8,002 cases, including 2,051 recoveries and 53 deaths.

While Delhi's tally stands at 7,233 cases with 2,129 patients recovered and 73 deaths.

Meanwhile; Mizoram (one case reported--now recovered), Goa (seven cases reported and all seven recovered), Manipur (Two cases reported and both patients recovered) and Arunachal Pradesh (one case reported--now recovered) have reported no new cases in the last 24 hours.

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