ED attaches Viceroy hotel’s assets in money laundering case
Enforcement Directorate has attached the assets belonging to Hyderabad-based Viceroy Hotels Limited which are of worth Rs 315 crore, under the Prevention of Money Laundering Act, 2002. In accord to the FIR registered by CBI, ED has started taking action against Best & Crompton Engineering Pvt Ltd (BCEPL) and their officials for cheating Central Bank of India, Corporation Bank, and Andhra Bank resulting in the loss of Rs 364 crore.
The Directorate has stated that 124 rubber stamps of different companies were seized at the office of Sujana group at Nagarjuna Hills in Hyderabad. The beneficiary companies of BCEPL and trade associates were also examined as part of the search operation.
The loan amount was allegedly diverted to Mahal Hotels, which is also a shell company floated by the Sujana group. ED has stated that liability towards Mahal Hotels is Rs 315 crore.