1 week ago
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The Directorate of Enforcement (ED) conducted searches astatine 8 locations crossed Hyderabad, Jaipur and Coimbatore successful transportation with an alleged amerciable sand-mining and wealth laundering case, seizing ₹1.53 crore successful cash, metallic bullion worthy ₹1.29 crore, overseas currency and respective incriminating documents.
The searches were carried retired connected May 26 nether the provisions of the Prevention of Money Laundering Act (PMLA) astatine the offices of GCKC Projects and Works Pvt. Ltd., Prathima Infrastructure Ltd. and Turnkey Enterprises Pvt. Ltd., too the residences of Boinipally Srinivas Rao, Ashok Kumar and V.G. Venkata Reddy successful Hyderabad and Jaipur. Officials besides searched a farmhouse linked to Srinivas Rao.
During the searches, officials seized ₹1.53 crore successful Indian currency, 1,800 US dollars, metallic bullion valued astatine astir ₹1.29 crore, integer devices and documents related to movable and immovable assets allegedly held successful the names of the accused persons and their household members.
According to the ED, the probe stems from an FIR registered by the CIU of the Anti-Corruption Bureau successful NTR district, Vijayawada, against V.G. Venkata Reddy, the past Director of Mines and Geology, on with Jaiprakash Power Ventures Ltd., Prathima Infrastructure Ltd. and GCKC Projects and Works Pvt. Ltd.
The FIR pertains to alleged irregularities successful soil mining operations, including amerciable excavation of soil and violations of tender conditions and agreements.
The ED said its probe recovered that District Level Sand Committees constituted pursuing Supreme Court directions had inspected soil reaches and detected large-scale violations by the companies involved.
According to the agency, the inspection reports revealed that soil was allegedly excavated beyond the permitted extent and besides from areas extracurricular the approved mining zones.
Based connected these findings, the bureau of the Director of Mines and Geology had issued aggregate show-cause notices and aboriginal request notices against the companies concerned.
The ED stated that investigation of these notices showed that request notices amounting to ₹2,407.70 crore had been raised against the 3 entities implicit the alleged amerciable excavations. Further probe is underway.
