Hyderabad, May 29 (SocialNews.XYZ) The Enforcement Directorate (ED)'s Hyderabad Zonal Office conducted a search operation under the provisions of the Prevention of Money Laundering Act (PMLA) at eight locations in Hyderabad, Jaipur, and Coimbatore, ED officials said on Friday.
The searches were conducted at the official premises of GCKC Projects and Works Private Limited, Prathima Infrastructure Limited, and Turnkey Enterprises Private Limited and residential premises of Boinipally Srinivas Rao, Ashok Kumar, and V.G. Venkata Reddy at Hyderabad and Jaipur as well as farmhouse of Boinipally Srinivas Rao on May 26, the central agency said in a statement.
The ED initiated investigation on the basis of an FIR registered by Anti-Corruption Bureau's Central Investigation Unit at the NTR district in Andhra Pradesh's Vijayawada against the then Director of Mines and Geology Department V.G. Venkata Reddy, Jaiprakash Power Ventures Limited, Prathima Infrastructure Ltd., and GCKC Projects and Works Pvt. Ltd. regarding commission of various violations in sand mining operations such as illegal mining of sand, provisions of tenders and agreements, etc.
ED investigation revealed that the Supreme Court formed District Level Sand Committees (DSLC) to conduct inspection of sand reaches and to report evidence of illegal mining.
Accordingly, the inspection carried out by DSLC revealed the two types of illegal excavations done by Jaiprakash Power Ventures Limited, GCKC Projects and Works Pvt. Ltd., and Prathima Infrastructure Ltd. viz. excavated sand beyond the permitted depth and excavated sand from area which was not the permitted area.
Thereafter, Office of the Mines and Geology Department Director issued several show cause notices to the said companies for illegal excavations.
Later, demand notices were issued to the said companies.
Upon analysis of demand notices, it came to light that office of Mines and Geology Department Director raised demand notices amounting to Rs 2,407.70 crore from the said three entities.
The searches resulted in seizure of Indian currency of Rs 1.53 crore, foreign currency of $1,800, silver bullion valued at Rs 1.29 crore, several digital devices, and several incriminating documents, including the details of movable/immovable properties, held in the name of accused persons and their family members.
Further investigation is under progress, the ED said.
Source: IANS
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