The Enforcement Directorate (ED) has seized digital devices, “incriminating documents” and unaccounted cash of ₹10.39 lakh during searches carried out in the residences of former office-bearers of the Hyderabad Cricket Association Gaddam Vinod, Shivlal Yadav and Arshad Ayub.
The searches were conducted at nine locations across the State under provisions of the Prevention of Money Laundering Act. The office premises of SS Consultants Pvt. Ltd. and the residential premises of its MD Satyanarayana were also searched.
According to the ED, searches showed that one of the premises of Gaddam Vinod was being used as an office for several companies owned and controlled by his brother and politician Gaddam Vivekanand.
The ED’s investigation was based on three FIRs registered by the Anti-Corruption Bureau (ACB), Hyderabad, relating to criminal misappropriation of the funds of the Hyderabad Cricket Association to the tune of ₹20 crore.
It was alleged that there were irregularities in the procurement of DG sets, firefighting systems and canopies for Rajiv Gandhi Cricket Stadium construction. Also, despite deadlines, several works were delayed inordinately, leading to escalated costs and budget enhancements and corresponding losses to the HCA, the ACBs chargesheets had noted.
It was also alleged that the three HCA office-bearers colluded with private parties for tenders, work allotment and advance payments to contractors, even without completion of works.
The fresh searches led to seizure of documents, which, the ED said, showed that the Visaka Industries and its group companies were regularly engaging in large-value cash transactions and cash payments related to their real estate activities.
And, several instances of receipt of cash from various persons and passing of adjustment entries in such real estate companies’ books for accommodating such transactions were notices, it said.
