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Hyderabad News.Hyderabad. Satyam scam: 35 more properties attached by ED

Hyderabad News. DC 02.04.2010


(Excl Ventures News.)Marching firmly towards its fixed objectives in Satyam scam, the Union finance ministryís Enforcement Directorate (ED) on Thursday attached 35 more properties worth Rs 50 crore belonging to the companyís former chairman B Ramalinga Raju and his erstwhile chief financial officer Vadlamani Srinivas.

The registered worth of these properties, however, is shown as Rs 26 crore based on the records of the concerned sub-registrarís offices.

The ED issued a provisional attachment order to this effect on Thursday stating that these were acquired by the accused with the proceeds of the scam. Significantly, in this latest attachment order, the Hyderabad zone authorities of the ED have also attached 6 lakh shares of M/s Gland Pharma Ltd worth Rs 10 crore which were acquired by the Raju and Co. in 2006 in the name of ten of their fictitious companies



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Each of these companies were holding 60,000 shares of Gland Pharma.Of the 35 properties that were attached on Thursday, 14 properties belong to Vadlamani Srinivas, his wife Lalitha and son Vijay.

Vadlamani also floated a company called Akash Ganga Green Fields Pvt Ltd and acquired 9 plots of land in Bachupalli of Ranga Reddy district.

Vadlamaniís family members had purchased plots from Huda in Nandagiri Hills of Jubilee Hills as well. All these properties are under attachment now.



Comment :

Lets hope ED will locate all such benami properties

Keyword TagsHyderabad News,Satyam Scam, Ramalinga Raju, Bachupalli
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