Overview

• On July 28, the Special Court for CBI Cases in Hyderabad formally admitted ED’s PMLA prosecution complaint against Saisree Engineers Pvt Ltd and its managing director Sagiraju Suryanarayana Raju.
• ED alleges SEPL defrauded the State Bank of India of ₹7.51 crore by presenting forged collateral and misdirected ₹13.53 crore from Bharat Coking Coal Ltd through successive layering transactions.
• Three immovable properties valued at ₹3.11 crore belonging to Raju have been provisionally attached as part of the ongoing money laundering probe.
• On July 30, a Special PMLA Court took cognisance of ED’s complaint against former CPWD Executive Engineer P. Sai Komareswar and his wife P. Padmavathi for amassing ₹1.26 crore in disproportionate assets.
• Searches at the engineer’s residence uncovered ₹30.5 lakh in cash and incriminating documents as ED continues to build on CBI and ACB charges in a coordinated crackdown on financial crime.