DRI, ED raids spark unrest among Hyderabad’s high-profile families

Recent raids by the Directorate of Revenue Intelligence (DRI) and Enforcement Directorate (ED) in Hyderabad have uncovered a series of alleged financial irregularities involving high-profile families. These developments have sent shockwaves through the city’s elite circles, raising concerns about the extent of financial misconduct and its implications.

The DRI’s investigation revealed a significant luxury car import racket, where high-end vehicles were undervalued by up to 50% through false documentation to evade customs duties. The vehicles, including brands like Rolls Royce and Lexus, were rerouted through countries such as Dubai and Sri Lanka for modifications before being misdeclared at Indian ports. A key suspect from Hyderabad was arrested for evading over ₹7 crore in customs duties by importing eight such high-end vehicles . 

Simultaneously, the ED has been probing money laundering activities linked to politically connected individuals. In one notable case, the ED conducted raids on the residences of Telangana Revenue Minister Ponguleti Srinivasa Reddy and his family members, investigating alleged hawala transactions and the purchase of luxury items through illicit means .These investigations have brought to light the involvement of several youths from politically connected families who have been adopting shortcuts to amass wealth rapidly. Their growing influence and government access have alarmed honest businessmen in the city .

The raids have also uncovered connections to international markets, including Dubai, raising questions about the global reach of these alleged financial networks. Authorities are now probing financial transactions under the guise of legitimate businesses, gathering details about investors and commercial networks possibly connected to these operations.

In response to the increasing scrutiny, some high-profile families are reportedly sending their children abroad to avoid potential legal repercussions. This exodus is seen as a measure to distance themselves from the ongoing investigations and maintain their social standing.

The unfolding situation has sparked a broader debate about the ethical standards of the city’s elite and the need for stricter enforcement of financial regulations. As investigations continue, the public remains watchful, hoping for accountability and transparency in addressing these alleged financial misdeeds.