Rs 315 Cr Properties Of Sujana Chowdary Attached

April 03, 2019 12:11
Rs 315 Cr Properties Of Sujana Chowdary Attached

(Image source from: Telugu360.com)

Rs 315 Cr Properties Of Sujana Chowdary Attached:- On Tuesday, the Enforcement Directorate attached immovable and movable properties of Viceroy Hotels Limited, Hyderabad which are owned by Sujana Chowdary. The properties are valued at Rs 315 crores and are attached under the Prevention of Money Laundering Act, 2002 in a bank fraud case. The properties are part of Sujana Group of Companies owned by former Union Minister and TDP MP Y Sujana Chowdary. The ED issued a statement on the same and the properties are seized as per the basis on an FIR registered by CBI.

Best & Crompton Engineering Pvt Ltd (BCEPL) and their officials tried to defraud Central Bank of India, Andhra Bank and Corporation Bank. The total loss caused to the banks is said to be Rs 364 crores and BCEPL is also a part of Sujana Groups. Several documents have been seized in the searches and the investigation revealed that the money was circulated among several shell companies of Sujana Groups. The amounts were finally diverted to Viceroy Hotels and the ED seized the properties yesterday.

(Video Source: TV9 Telugu Live)

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