Kolors Healthcare is owned by Vijay Krishna Devula who is reportedly a relative of veteran Telugu actor Raasi.
The Income Tax department on Wednesday carried out searches at Hyderabad-based Kolors Healthcare India Private Limited suspecting them of evading tax. The searches were reportedly carried out in 48 locations across the country including Telangana and Andhra Pradesh.
Kolors Healthcare is into health, beauty, weight loss and fitness among several others. The company is owned by Vijay Krishna Devula and his partner G Nagachandra Venkata Rayudu. Vijay Krishna Devula is reportedly a relative of veteran Telugu actor, Raasi.
According to Deccan Chronicle, the searches were carried at the actor’s residence as well. The officials seized several documents and receipts as evidence. No cash was seized in the raid. Officials reportedly said that they can confirm about tax evasion only after scrutinising the seized documents.
Over 22 locations in Telangana and Andhra Pradesh were searched including the residence of Vijay Krishna Devula and Nagachandra Venkata Rayudu. Searches were carried out after allegations that the company is charging heavily from clients but had been allegedly evading tax, reported Telangana Today.
Kolors, which claims to be a health service provider, has branches across Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Maharashtra and Madhya Pradesh. The head office of Kolors is located in Karkhana, Secunderabad. In Telangana itself, the health care centre has 10 branches, including six in Hyderabad. Film actors like Rambha, Madhubala, Charmee amongst many have promoted Kolors. Kolors was established in 2004, as per their website.
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