Allu Aravind Going through ED Investigation
The Enforcement Directorate (ED) has launched an investigation right into a financial institution rip-off case and questioned producer Allu Aravind. The case pertains to a Rs. 101 crore financial institution mortgage fraud associated to Hyderabad-based Ramakrishna Electronics. Allu Aravind, the pinnacle of Geetha Arts, was questioned by ED officers for about three hours, and his assertion was recorded. The primary inquiry was into financial institution transactions that happened between 2018-19.
The ED has discovered that the homeowners of Ramakrishna Electronics used the mortgage funds for their very own advantages and unlawful cash transfers. Some suspicious monetary transactions have been discovered to have taken place between Ramakrishna Electronics and firms owned by Allu Aravind. The ED has issued notices to him in search of clarification on these transactions. Allu Aravind has been ordered to look for one more listening to subsequent week.
The ED is investigating Allu Aravind’s relations with the homeowners of Ramakrishna Group, V. Raghavendra and V. Ravi Kumar, who’re the primary accused on this case. The officers questioned Allu Aravind at size about particulars associated to financial institution transactions and property purchases. The investigation is ongoing, and the ED is but to finish its probe.
The case was initially registered by the CBI, however later the ED began an investigation from the angle of cash laundering. The ED Questioned Allu Aravind and search clarification concerning some incriminating proof in opposition to Allu Aravind and his firms. The result of the investigation will decide the subsequent plan of action.
