- ED seized assets in Vivekananda BHEL housing society case
- ED seized assets after probe into fund diversion by office bearers
The ED seized assets worth Rs 16.35 crore in connection with a housing society scam involving BHEL employees. The Enforcement Directorate took this step while probing irregularities in the Vivekananda BHEL Employees Mutually Aided Co operative Housing Society. Officials said the action followed findings that funds collected from members were misused instead of being used for housing construction.
The ED seized five immovable properties during the investigation. Officials said these properties were worth about Rs 16.35 crore. The society had collected around Rs 18.09 crore from 316 members. The money was meant for a housing construction project at Mu Thangi village. However, investigators found that the funds were not used for the benefit of the members. Therefore, the agency stepped up its probe under money laundering provisions.
According to the investigation, the society president D Srinivasa Rao, the treasurer, and other governing body members misappropriated the funds. Officials said they acted in conspiracy with P Govardhan Reddy. He was a representative of the builder company Tribha Ventures Private Limited. Together, they diverted the money into personal accounts. Later, the builder and the society president converted the lands bought using society funds into their personal assets.
Meanwhile, the ED confirmed that about Rs 17.31 crore in cash changed hands illegally during the process. Officials stated that the transactions were part of a planned diversion of funds. Therefore, the agency identified the assets linked to the proceeds of crime. The ED seized assets after verifying ownership and financial trails connected to the housing society scam.
The case first came to light after affected members lodged a complaint. Based on this complaint, police registered a case at Ramachandrapuram Police Station in Cyberabad. Later, the ED stepped in and began an investigation into money laundering aspects of the case. Officials examined records related to fund collection, land purchase, and financial transfers linked to the society.
The ED said the latest seizure process was completed based on the charge sheet submitted by the police in July 2025. The action marked a key development in the long running probe into the alleged scam. The agency stated that the seized properties were directly linked to the misappropriated funds. Meanwhile, the investigation continues as officials examine the role of all accused in the diversion of money meant for housing.
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