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Hyderabad Boulder Hills Project Scam. ED attaches 19 Villas in the Emmmar- Apiic Promoted Luxury Township in Gachibowli

Hyderabad News. DC / Exclventures 14.09.2013


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Boulder Hills Hyderabad



(Excl Ventures News.)The Enforcement Directorate on Friday took possession of 19 plots in Boulder Hills, including that of film star Ram Charan Tej and former cricketer V. Chamundeswaranath in connection with the multi-crore Emaar-APIIC township scam.

Sources said that the total book value of the properties that were taken possession of under the Prevention of Money Laundering Act would be 72 crore but the market value would be much higher.

While ED officials led by Hyderabad joint-director N. Sridhar executed the operation at Emaar Hills Township at Boulder Hills in Manikonda of Gachibowli, four other properties of EHTPL in New Delhi were also taken into possession.

Sources said that most of the 19 plots were in the name of fictitious companies and individuals and were unsold. Rich and famous dragged in Actor Ram Charan Tej''s 1,545-sq. yard plot attached ED also attached plots in the name of former cricketer V.
Chamundeswaranath

Total value of properties attached would be about `72 crore One plot in the name Koneru Prasad''s son also among those attached The CBI in its chargesheet had stated that actor Ram Charan Tej, son of Union minister K. Chiranjeevi, had purchased a 1,545-square yard plot (No. B-30). The CBI had also recorded the actor''s statement.


An official said, “Ram Charan purchased the plot and made the payment.
However, registration was not done in his name and on paper the plot still belongs to EHTPL. Since this makes the plot unsold, it has been attached. The plots of former cricketer Chamundeswarinath and one Madani also have been taken over.“

Mr Chamundeswaranath had bought three plots one of which, B-44 measuring 1,458 sq. yards, had not been transferred to his name.

The official also added, “The concerned parties of these 19 properties are hereby prohibited and restrained from transferring or charging the properties by sale, gift, mortgage, pledge or otherwise in any manner and all persons are restrained from buying or receiving them too.“

It was alleged that though the plots were sold at `50,000 per square yard, only `5,000 was shown in the accounts thus causing huge losses to the AP Industrial Infrastructure Corporation.

The residential land spread over 25,810 square yards, identified by CBI as belonging to fictitious companies of EHTPL, was attached.

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Keyword Tags: Hyderabad News,Boulder Hills, Emmar Township

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