Hyderabad: The Enforcement Directorate (ED) on Monday attached fixed deposits, plots and other assets worth Rs 96 crore in total in connection with probe related to APIIC-Emaar township project. Basing on the chargesheet of the CBI, the ED Hyderabad zone has registered ‘Enforcement Case Information Report’ (ECIR) under the Prevention of Money Laundering Act against EHTPL and others, including EHTPL's former director Koneru Rajendra Prasad, Tummala Ranga Rao of Stylish Holmes and Real Estate and N Sunil Reddy, former director of Southend Projects.
The CBI has filed a charge sheet alleging that Emaar Hills Township Private Limited (EHTPL) and others took excess money in cash for plots in EHTPL, without showing that on account books, and did not share this revenue with Andhra Pradesh Industrial Infrastructure Corporation, its JV partner. “Investigation revealed that the accused collected excess amounts in cash from the sale of villa plots in EHTPL to the extent of Rs 96.01 crore and shared this amount among them. This amount forms part of the total amount of Rs 167 crore that constitutes Proceeds of Crime derived by cheating APIIC,” an ED statement said.
