Hyderabad, Nov 23 (Maxim News): Investigation by the Enforcement Directorate (ED) has revealed that a cash transfer of Rs. 100 crore has been made through Visaka Industries belonging to former MP and Chennuru Congress Candidate G. Vivek. Initially it was found that there was a violation of FEMA in the transfer of funds to Vigilance security Services.
It may be recalled that the ED started the investigation with the information given by the police that Rs. 8 crores had been transferred from Vivek’s bank account to Vigilance Securities.
In this order, the ED teams conducted inspections on Vivek’s houses and offices in Hyderabad, Ramagundam and Manchiryal on Tuesday.
Based on the evidence found in those areas, the transactions of Vivek and his wife were examined by Visaka Industries. Vigilance Security found that it had disclosed in its balance sheets that it had received an income of about Rs. 20 lakhs through its business activities.
It has been found that financial transactions of Rs. 200 crores have been done in the company. But investigation revealed that Vigilance Securities had no actual business dealing with Visaka Industries. Vigilance Security is also revealed to be under Vivek’s control.
ED investigation revealed that Yashwant Realtors is the parent company of Vigilance Securities. It has been found that most of the shares in these realtors are in the name of a foreigner. Initially found violation of FEMA in Vigilance Securities merger with a foreign entity. It was revealed that unaccounted cash was used in property deals of group companies. The vigilance agency found its presence at the mentioned addresses.
ED investigation revealed that Yashwant Realtors is the parent company of Vigilance Securities. It has been found that most of the shares in these realtors are in the name of a foreigner.
Initially found violations in vigilance Securities merger with a foreign entity. It was revealed that unaccounted cash was used in property deals of group companies. The Vigilance agency found its presence at the mentioned addresses.
The ED’s investigation into the Hyderabad Cricket Association (HCA) scam has unexpectedly revealed the links of Vivek’s organization. The documents of the real estate business transactions of the Visaka Industries group of companies have been seized by the ED.
The Telangana ACB had previously registered cases of Rs. 20 crore irregularities in the construction contract of the Rajiv Gandhi International Cricket Stadium in Uppal, Hyderabad.
On the basis of those cases, the ED conducted searches on Tuesday at the houses of former HCA president, Bellampally Congress candidate G. Vinod former HCA Vice President Shivalal yadav, former Secretary Arshad Ayub, the office of SS Consultants, the residence of MD Satyanarayana of that company.
Digital devices, various documents, Rs. 10.39 lakh cash was seized. The ED concluded that a house belonging to Vinod was being used by his brother Vivek for his Visaka Industries activities. (Maxim News)
Next Story:
We Will Suffocate The Revanth Government: KTR
Sangareddy/Hyderabad, May 4 (Maxim News): BRS Executive President KTR has lashed out at the Congress government for harassing farmers until they die after coming to power. He expressed his anger that the government has not purchased the groundnut crop even after a month. He said that farmers have not been properly assured. Speaking in Sadashivapeta,…
These Results Are Proof Of People Faith In Modi Leadership: PVN Madhav
Visakhapatnam/Hyderabad, May 4 (Maxim News) BJP state president PV Madhav said that these election results are a clear proof of people’s faith in Prime Minister Modi’s leadership. Speaking to the media on Monday, he said that people are aspiring for the country to move forward with the goal of ‘Vikasit Bharat’. He revealed that people…
Sajjanar Issues Strict Guidelines To Cow Protection Groups In Hyderabad
Hyderabad, May 4 (Maxim News): The City Police Commissioner, VC Sajjanar held a meeting with the representatives of various Gau Rakshak (Cow Protection) organisations to discuss security measures and the maintenance of law and order in the city. Here To Join Us On WhatsApp Addressing the gathering, the Commissioner emphasised that the police department has…
Sunstroke Victims Miss Out Apathbandhu Scheme Aid Due To Poor Awarness
Adilabad/Hyderabad, May 4 (Maxim News): Sunstroke continue to claim lives of people with the district being gripped by scorching heat wave conditions. However, in a majority of cases family members of the victims are not getting compensation provided by the government under Apathbandhu scheme as they are apparently unaware of the application process to claim…
Woman, Son Killed Live-In partner In Chintal
Hyderabad, May 4 (Maxim News): A woman, along with her son, allegedly killed her live-in partner in Chintal in Ambedkar Nagar under Jeedimetla police limits on Sunday night. Here To Join Us On WhatsApp The victim, identified as Shivareddy, was reportedly in a live-in relationship with the woman. According to preliminary information, the suspects resorted…
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News updates
