Cellphones “containing proof associated to money dealings” had been additionally seized.
New Delhi:
The ED stated on Friday that it seized Rs 19 lakh money other than a “massive quantity” of property paperwork within the identify of Benami individuals throughout raids on premises linked to BRS MLA Gudem Mahipal Reddy and his businessman brother Gudem Madhusudan Reddy in and round Hyderabad.
The raids had been launched on Thursday at about ten areas as a part of a cash laundering investigation linked to alleged unlawful mining.
The cash laundering case stems from an FIR of the Telangana Police in opposition to an organization Santhosh Sand and Granite Provide positioned in Patancheru, Hyderabad and promoted by Gudem Madhusudan Reddy.
The premises of G Madhusudan Reddy, G Mahipal Reddy, their firm and others had been searched, the central company stated in a press release.
The Bharat Rashtra Samithi (BRS) get together is headed by former Telangana chief minister Okay Chandrashekar Rao.
Search operations led to the seizure of “unaccounted” money of Rs 19 lakh together with a lot of property paperwork within the names of unrelated individuals who’re suspected to be “benamis” of the accused individuals, the Enforcement Directorate stated.
Cellphones “containing proof associated to money dealings” had been additionally seized, it stated.
Some financial institution locker keys had been recovered and examination of those lockers is predicted to furnish extra proof, it stated.
The accused agency, in response to the ED, was discovered to have excavated and transported an extra amount of 11,98,743 CBM of constructing stone and highway metallic throughout the quarry lease permitted space and 10,11,672 CBM of fabric past the permitted space (on encroached authorities land measuring 4.37 hectares).
On this course of, the company alleged, the accused “illegally amassed” round Rs 300 crore by sale of illegally excavated materials and in addition evaded a royalty quantity of Rs 39.08 crore as a result of authorities.
“The sale proceeds of illegally excavated materials had been intentionally not reported in banking transactions and books of accounts and the transactions had been suspected to have been carried out in money.
“The proceeds of crime within the type of money had been laundered by the accused and had been invested in actual property and different actions,” the ED claimed.
(Aside from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
