ED attaches Raju’s bank deposits worth Rs 822 crore
19 Oct 2012 12:25 AM GMT
Enforcement Directorate on Thursday issued attachment orders freezing fixed deposits worth Rs 822 crore of B Ramalinga Raju, founder of scam-hit Satyam computers, and his family in connection with its probe in the money laundering case.
The orders issued by the Hyderabad zonal office of the agency specify that these deposits, held in the accounts of Ms Satyam Computers and Services Limited [SCSL], were being attched as it has identified these value of assets as ‘proceeds of crime’ under the Prevention of Money Laundering Act [PMLA].
The accounts of SCSL, according to the ED attachment order, in Andhra bank, Bank of Baroda, IDBI and ING Vysya have been freezed, even as the agency has filed a complaint in this regard with the Adjudicating authority of the PMLA in Delhi.
The ED attached the accounts of SCSL as its probe found that Raju and his associates ‘wrongfully’ offloaded inflated shares of the said company by sale or pledging of shares, it alleged.
According to the order, Raju and his family members allegedly ‘lured’ investors into buying these shares.
The orders issued by the Hyderabad zonal office of the agency specify that these deposits, held in the accounts of Ms Satyam Computers and Services Limited [SCSL], were being attched as it has identified these value of assets as ‘proceeds of crime’ under the Prevention of Money Laundering Act [PMLA].
The accounts of SCSL, according to the ED attachment order, in Andhra bank, Bank of Baroda, IDBI and ING Vysya have been freezed, even as the agency has filed a complaint in this regard with the Adjudicating authority of the PMLA in Delhi.
The ED attached the accounts of SCSL as its probe found that Raju and his associates ‘wrongfully’ offloaded inflated shares of the said company by sale or pledging of shares, it alleged.
According to the order, Raju and his family members allegedly ‘lured’ investors into buying these shares.
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