HYDERABAD:
Income Tax sleuths from Hyderabad on Wednesday conducted nationwide searches to check alleged
tax evasion by and Kolors Healthcare
, a wellness and beauty chain. Searches were conducted at 35 locations in Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana and Andhra Pradesh, besides homes of
Raasi and Kolors director Devula Vijay Krishna.
Officials told TOI that they found that the company had suppressed sales and not accounted for lakhs received from clients. Sources said Raasi is related to Devula and has been endorsing products and advertising for the company.
Kolors Healthcare has been in the business for the past 16 years. Most of the other companies were floated between 2014 and 2018. The companies in which Vijay Krishna is director include Kolors Food Sciences LLP, Kolors Healthcare Franchises Servies LLP, Kolors Beauty and wellness Academy LLP, Kolors Advanced Dentistry LLP, Kolors HealthCare LLP, Kolors HelathCare India Private Limited. I-T sleuths are verifying transactions in all companies.
“The company has suppressed the number of payments received at the point of sale in the branches,” an official said. “We have seized machines and computers and other documents to analyse the scale of evasion.” The company claims to have 10 lakh customers, 49 branches and 1,500 dieticians and therapists on its website.
Consumer courts in Vijayawada and Vishakapatnam had earlier given judgements against Kolors after receiving complaints. Vijayawada consumer forum had in February 2019 ordered the ‘misleading advertisements’ of Raasi and other actress, Rambha, be stopped after receiving complaints from consumers.
Stay updated with the latest news on Times of India. Don't miss daily games like Crossword, Sudoku, and Mini Crossword.Sudhakar Reddy Udumula is the Editor (Investigation) at the Times...
Read MoreSudhakar Reddy Udumula is the Editor (Investigation) at the Times of India, Hyderabad. Following the trail of migration and drought across the rustic landscape of Andhra Pradesh and Telangana, Sudhakar reported extensively on government apathy, divisive politics, systemic gender discrimination, agrarian crisis and the will to survive great odds. His curiosity for peeking behind the curtain triumphed over the criminal agenda of many scamsters in the highest political and corporate circles, making way for breaking stories such as Panama Papers Scam, Telgi Stamp Paper Scam, and many others. His versatility in reporting extended to red corridors of left-wing extremism where the lives of security forces and the locals in Maoist-affected areas were key points of investigation. His knack for detail provided crucial evidence of involvement from overseas in terrorist bombings in Hyderabad.
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