The Income-Tax officials have conducted searched at the residence and offices ok TRS MLA Madhavaram Krishna Rao, who represents Kukatpally constituency. It has been reported that the searches were carried out in connection with the financial transactions of Praneeth Home's Company. Krishna Rao's son Sandeep Rao is one of the Directors of the company.

The IT department has said that the searches took place at the residences and offices of Krishna Rao, at Venkatrao Nagar Colony. The searches were conducted from the morning hours. The officials have also raided, the offices of Praneeth Homes Company and the residences of five of its directors.

If the reports were to be believed, many key documents related to the transaction of the properties and lands were seized by the officials. The searches have raised a debate in the political circles.