ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
General News

ED attaches flat worth Rs 30.57 lakh under PMLA

Hyderabad (Telangana) [India], January 12 (ANI): The Enforcement Directorate (ED) has provisionally attached a flat in Hyderabad of one Kommalapati Kishore Babu, Ex-Business Development Manager of M/s Global Trade Finance Limited, Hyderabad (presently known as SBI Global Factors Limited) under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The flat is valued at Rs 30,57,000 lakh.

ANI Jan 12, 2022 22:37 IST googleads

Representative image.

Hyderabad (Telangana) [India], January 12 (ANI): The Enforcement Directorate (ED) has provisionally attached a flat in Hyderabad of one Kommalapati Kishore Babu, Ex-Business Development Manager of M/s Global Trade Finance Limited, Hyderabad (presently known as SBI Global Factors Limited) under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The flat is valued at Rs 30,57,000 lakh.
ED initiated an investigation under PMLA on the basis of FIR registered by CBI, EOW, Chennai against Kommalapati Kishore Babu, Ex-Business Development Manager of M/s Global Trade Finance Limited, and M/s Digital PC Technologies Limited along with its directors Karvendula Vijay Kumar Chanakya, & others.
In the charge sheet filed by CBI, EOW, Chennai, it has been stated that Kommalapati Kishore in return for accepting a bribe of Rs 50 Lacs from Karvendula Vijay Kumar Chanakya, had facilitated trade finance facilities to M/s Digital PC Technologies Limited on the basis of fake and fictitious trade receivable.
The ED said that Karvendula Vijay Kumar Chanakya cheated the financing firm and did not service the loan and diverted the loan proceeds for personal gain and the account became NPA. The total loss caused to M/s Global Trade Finance Limited, Hyderabad, on account of this fraud is reportedly Rs 9.32 crore.
The investigation under PMLA 2002, revealed that Kommalapati Kishore Babu had systematically layered the bribe proceeds of Rs 50 Lacs received from M/s Digital PC Technologies Limited by making cash deposits in his Bank Accounts and he utilized this amount for the purchase of a flat at Silver Springs in Czech Colony, Sanathnagar at Hyderabad worth of Rs 30,57,000.
The ED found out that the flat is nothing but direct proceeds of crime and is thus provisionally attached by issuing PAO No 01/2022 on 12.01.2022. Further investigation is in progress, the ED said. (ANI)


Get the App

What to Read Next

General News

ED attaches 31 immovable properties worth Rs 581.65 crore in...

ED attaches 31 immovable properties worth Rs 581.65 crore in...

The attached properties are in the form of land parcels situated in Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh, and Rajasthan.

Read More
General News

ED challenges interim bail granted to Jawad Ahmed Siddique

ED challenges interim bail granted to Jawad Ahmed Siddique

ED has challenged the interim bail granted to Jawad Ahmed Siddique in a money laundering case. He was granted interim bail by the Saket court on the grounds of his wife's medical condition.

Read More
General News

2 apprehended for manufacturing, selling adulterated ginger paste

2 apprehended for manufacturing, selling adulterated ginger paste

The arrests followed a police raid on March 11, after authorities received reliable information about the use of harmful ingredients in violation of food safety regulations. The individuals were operating under the names "SEVEN COOKS" and "Arjun Enterprises".

Read More
General News

KTR warns of business closures over LPG crisis

KTR warns of business closures over LPG crisis

According to a post by BRS on 'X', KTR warned that the shortage is severely affecting hotels, eateries, hostels and small food businesses. The letter cautioned that thousands of establishments could be forced to shut down, while lakhs of workers and students may face serious hardship if the LPG supply is not restored immediately.

Read More
General News

Meghalaya CM Sangma after reported attack on NPP office in Tura

Meghalaya CM Sangma after reported attack on NPP office in Tura

In a video released by the Chief Minister's PRO, Sangma said he was at the NPP office in Tura and acknowledged the previous day's unrest, during which several locations, including the party office, were vandalised, attacked and set on fire by unidentified individuals. He said the incident was unfortunate and emphasised that there was no justification for targeting the party office.

Read More
General News

Rs. 200 crores extortion case: Delhi HC judge recuses from hearin

Rs. 200 crores extortion case: Delhi HC judge recuses from hearin

The Delhi High Court judge, Justice Swarana Kanta Sharma, on Thursday recused from hearing the bail pleas of Sukesh Chandrasekhar's wife, actor Leena Maria Paul, and other accused in the Rs 200 crore extortion and connected money laundering case, which has been pending since 2024.

Read More
General News

LPG cylinder crisis hits restaurants in Hyderabad

LPG cylinder crisis hits restaurants in Hyderabad

Gas shortage is hitting restaurants hard in Hyderabad. A restaurant owner said that the fuel shortage is affecting their business big time, and with wood prices allegedly skyrocketing, especially in Ramdhan, it is challenging.

Read More
Politics

"How dare your govt demolish houses of poor people?": K Kavitha

"I have one question for Rahul Gandhi: Why did your government in Telangana evacuate landowners? How dare your government enter into private property? How dare your government demolish the houses of poor people? And how dare your ministers lie to the people of Telangana so blatantly for the whole world to see?" Kavitha said while addressing a gathering in Hyderabad.

Read More
General News

Enforcement wing of CAF & CS Department Cracks Down on Illegal Co

Enforcement wing of CAF & CS Department Cracks Down on Illegal Co

The Enforcement wing of CAF & Civil Supplies Department is conducting widespread search and seizure operations to crack down on the illegal commercial diversion and pilferage of domestic LPG cylinders, an official statement said.

Read More
General News

ED raids 19 places in Chandigarh in Rs 590 crore IDFC First bank

ED raids 19 places in Chandigarh in Rs 590 crore IDFC First bank

The Enforcement Directorate (ED) on Wednesday conducted searches at 19 premises in Chandigarh, Haryana and Punjab in relation to the recent fraud that happened at IDFC First Bank, Chandigarh branch, officials said.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.