ED raids ex-Modi govt minister & TDP MP, seizes 6 'high-end' cars
New Delhi: The Enforcement Directorate (ED) has seized six high-end cars, including Ferrari, Range Rover and Mercedes-Benz, reportedly belonging to TDP MP Y S Chowdary and has summoned him for questioning next week in connection with an alleged Rs 5,700 crore bank loan fraud case, officials said Saturday. The agency said it took the action under the Prevention of Money Laundering Act (PMLA) after it conducted searches at eight premises of the Sujana Group in Hyderabad and Delhi on Friday.
The ED said that Chowdary, a sitting Rajya Sabha member of the Telugu Desam Party (TDP), was the man behind the Sujana Group of companies and it has gathered evidence that "all directors of various Sujana Group of companies act under his instructions". The agency said the high-end cars seized were registered in the name of dummy companies.
The TDP MP, considered close aide of Andhra Pradesh Chief Minister and party president N Chandrababu Naidu, has been summoned for questioning on November 27 in the case, it said. Chowdary was a Minister of State (MoS) in the Union cabinet before Naidu quit the NDA early this year over the Centre's refusal to grant special status to Andhra Pradesh
The ED said it raided the company (Sujana group) in pursuance of a bank fraud case of a Chennai based firm Ms Best and Crompton Engineering Projects Ltd (BCEPL). Documents related to alleged shell firms, under the umbrella of the Sujana group, were recovered after raids were carried out against the Chennai firm, it said
"Verification conducted with the documents/records seized indicated that BCEPL along with other companies of Sujana group were functioning under the chairmanship of Y S Chowdary, who is a sitting RS MP of TDP. Investigations revealed that all directors of various Sujana group companies act under the instructions of Chowdary which is evidenced by the email correspondences and communications recovered from the business/residential premises of the directors of BCEPL," the ED said in a statement.